I had Chennai in mind, when I wrote that comment because I know only Chennai and Delhi well (I'm from Delhi).

Banglore is expensive because of the sheer number of IT companies there.

Come to chennai:

I can get you:

a posh OFFICE SPACE (Not a fucking apartment) for $60 in a posh area.

a sole proprietorship for less than $100

a decent grad for $200 - but not from the top Universities, though. Why? Because it's a cliched mindset that the best people come from the best universities. Have you watched Ratatouille?

"Not anyone can become a great artist, but a great artist can come from anywhere."

Please, I urge you to refresh this kind of attitude (Heavier pay = better quality employee, Better University = better grad)