Xbox360 20 gig costs 400$, Ps3 20 gig costs 500$, ps3 60 gig costs 600$.
For PAL/European - they are only releasing the 60 gigger version. And if that wasn't bad enough, European 60 gigger is a 100-150$ more expensive than the US version. So we'll be getting it for around 720$ and that's without the Indian tax, round it up to 800-900$ with tax and you get around 35000 - 45000. Assured, it will cost in only around that price length.
And Xbox360 Core version is 21k officialy, the premium is 27.5k, and that's still a little low because we got the official launch.
Though, from grey market, it'll be cheaper. If it costs too much there's nothing wrong in going for NTSC/J 20 gig Ps3. You miss practically nothing except inbuilt wifi (which you can add later with a difference device). It should cost nothing more than 26k.