Dear Ajay,
A little bit more information would have been helpful for me to narrow down my suggestions. Can you tell me whats your usage everyday? (How many Kms do you drive), Do you want a small car or sedan type. Whats your regular use and what else do you use your car for? Family Trips? How frequently etc.,
Anyway, Here are my suggestions with the information you have provided. You can also use the CarSalesIndia.com Recommend Me A Car option to narrow down your search.
Santro Zing GLS, Wagon R VXi, Hyundai i10 Era, Fiat Grande Punto Active
Nearer to the 5 Lakh mark are the following cars.
Swift VXi, and Ritz VXi
I hope this information helps you. There are still a number of other options, which you can probably narrow down by using the Recommend Me A Car section.
