After a lot of confusions on which bike I would be going for, My bike is finally here. Its Karizma R. I found it the best offering for a sports bike in India (as of now and under price I was willing to pay for it, the Honda and Kawasakis 600+CC would be coming soon I heard). The bike is a 225 CC bike with the closest to the fancy Sports bikes looks.
Pulsar 220CC was a choice candidate too, the blue color is definitely an eye catcher and a big plus for P220 and that's what caused some confusion, but Karizma still beats it in looks.
Okay here is how my bike looks like: (photo courtsey Sachin)