The effect of India's growth story is clearly visible in the Indian auto market. With every car manufacturer vying for a major share of the industry's annual revenues, the consumer is emerging as the clear winner. As the spending power of the Indian consumers increases, there are many options at their disposal. The sub- 5 Lakh market is developing fast with the launch of new models by the biggest of names in the industry. This market primarily caters to the growing Indian middle class. It offers value for money options in the form of cars that do reasonably good on the parameters of performance. Here we list the best cars available in India for less than Rs. 5 Lakhs.
1. Maruti Alto K10
Price: Rs. 3,17,592
Fuel efficiency: The mileage numbers are quite good in the form of 15.5 kmpl in the city and 20.2 kmpl on the highway.
Description: The K10B 1 L engine is built of lightweight aluminum. The power and torque values for this Maruti Alto model are 68PS @6200rpm and 90Nm @3500rpm respectively. You do not need such high speeds on city roads but this car can attain a maximum speed of 137 km/h. The shift from a speed of 0 to 100 kmph comes in 15.2 seconds. 5 speed, cable type manual transmission governs its movement. The features on offer including the central locking system and power windows are good for the price it comes at.
2. Tata Indica eV2
Price: Rs. 4,12,445
Fuel efficiency: The car gives decent mileage numbers in 13.5 kmpl on city roads and 18.4 kmpl on the highway.
Description: The common rail engine in the Tata Indica eV2 works well for a drive on the city roads with a maximum power of 70PS @4000rpm power and the torque value of 140Nm @1800rpm. Features such as auto drive assist, re-cranking prevention and clutch lock add value to it. Tachometer is available in the diesel version. Keyless entry, alloy wheels, fog lamps for the front and the rear and a Bluetooth enabled music system make this Tata Indica model a worthy alternative in this segment.
3. Chevrolet Aveo UVA
Price: Rs. 4,20,158
Fuel efficiency: The mileage numbers for this Chevrolet model for a ride in the city and on the highway are 11.9 kmpl and 14.7 kmpl respectively.
Description:
While at the wheels in this car, you have the option of speeding up to 148 kph. The styling and spacious interiors are its USP. The engine generates power of about 76PS@5500rpm and 110Nm@4400rpm torque. The acceleration from 0 to 100 kmph comes in 16.4 seconds. It sports chrome finish Bezel headlamps and a chrome grille. Driver airbag, remote keyless entry, door ajar warning system and a burglar alarm give Chervrolet Aveo UVA's prospects a boost as a safe, stylish and comfortable car.
4. Skoda Fabia
Price: Rs. 4,35,019
Fuel efficiency: The mileage numbers are comparable to other cars in the segment with 14.8 kmpl and 22.7 kmpl for the diesel variant in the city and on the highway respectively. For the petrol variant, the numbers are a tad lower at 13.6 kmpl in the city and 19.3 kmpl on the highway.
Description:
It is available in both petrol and diesel variants. Both the versions come with a 5 speed manual transmission system. 1.2 MPI and 1.6 MPI petrol variants generate power of about 75 bhp and 105 bhp respectively. Dual airbags for the front seats, spacious interiors and well designed exteriors are the USP of the Skoda Fabia models.
5. Hyundai i20
Price: Rs. 4,64,908
Fuel efficiency: For the Hyundai i20 the mileage numbers for the city and the highway are 13.7 kmpl and 17.9 kmpl respectively.
Description:
This spacious, features packed hatch from Hyundai comes in both petrol and diesel variants. The nicely done up interiors and its spacious build are the high points of the features on offer. Safety gets a priority with Anti-lock Braking System and Motor Driven Power Steering (MDPS). The diesel variant sports a 1.4 L CRDi 4 cylinder, 16 valve DOHC engine. The maximum speed for this variant is 155 kmph. The power and torque values for the engine are 90 PS @4000 rpm and 22.4 kgm @2750 rpm respectively. The acceleration from 0 to 100 kmph comes in 14.5 seconds.
6. Volkswagen Polo
Price: Rs. 4,64,139
Fuel Efficiency: The fuel efficiency values for a drive in the city or on the highway for Volkswagen Polo are 12.5 kmpl and 17 kmpl respectively. These numbers are a tad lower than some of cars in the segment.
Description:
Volkswagen Polo is available in 1.2 L or 1.6 L petrol variants and a 1.2 L diesel variant. All these variants come with five speed manual transmission. The 1.6 L petrol variant generates a power of 105 PS and the value for the maximum torque is 153 Nm. It attains a speed of 100 kmph in 11.1 seconds. It can reach a maximum speed of 183.8 kmph. Anti-lock braking system, airbags and anti-theft immobilizer are standard features.
7. Tata Indigo eCS
Price: Rs. 4,69,704
Fuel efficiency: The fuel efficiency for city drive in Tata Indigo eCS is low at 13.6 kmpl while it is still acceptable at 18.3 kmpl when it comes to a drive on the highway.
Description:
This offering from Tata sports a 1193 CC MPFI Petrol engine. Accompanied by a 32 bit microprocessor, the engine complies with the BS4 emission norms. The engine powers the vehicle with 65 PS @5000rpm. The torque value for the engine is 100 Nm @2700rpm. It is spacious and comes with elegantly done up exteriors. The power windows at the front and the rear carry tinted glasses.
8. Fiat Grande Punto
Price: Rs. 4,89,427
Fuel efficiency: The mileage numbers for this car fare poorly against its competitors with 11.2 kmpl in the city and 15.2 kmpl on the highway.
Description:
The Dynamic, Emotion and Active models of Fiat Grande Punto are available in both petrol and diesel versions while the 90 HP Punto comes only with a diesel engine. Fiat Grande Punto Petrol Active carries the lowest price tag. Its 1.2 L engine powers the vehicle with 65 bhp. The top speed for the vehicle is 155 kmph. It takes 18.1 seconds to attain a speed of 100 kmph from zero. It works on 5 speed manual transmission. It offers a height adjustable driver's seat and head restraints. A dual drive electric power steering adorns the vehicle along with an advanced car audio system.
9. Premier Rio
Price: Rs. 4,90,000
Fuel efficiency: The mileage numbers at 12.0 kmpl in city and 16.0 kmpl are not impressive.
Description:
A 1173 cc, 1.2 L petrol engine powers the Premier Rio GX. It is available only with a manual transmission system. It generates 76.6 ps power @5800 rpm and 103.9 Nm torque @3500-4000 rpm. The top speed for this vehicle is 145 kmph. It comes with a central locking system, a power steering and power windows at the front. It does not sport features such as airbags, a music system or an anti-lock braking system as compared to several other vehicles in the category.
10. Maruti Suzuki Swift DZire
Price: Rs. 4,91,498
Fuel efficiency: Maruti Suzuki Swift Dzire is reasonably fuel efficient at 16.0 kmpl in the city and 19.1 kmpl on the highways.
Description:
The Maruti Swift Dzire LXI carries 1.3L 85PS AlTec32 petrol engine. This engine produces a power of 87 PS at 6000 rpm. The torque value for this vehicle is 114 Nm at 4500 rpm. Power steering, height adjustable seat belts, rear seat headrest, rear fog lights and power adjustable rear view mirror are some of the features on offer.

I think Maruti Suzuki Swift, Chevrolet Beat, Honda brio, Etios Liva, Hyundai Eon are Tata Nano few best cars in Indian rather all are good performer too!