Sorry for the late reply.
Finally I went in for the Brother HL-1111 printer and purchased it locally for Rs.4250/-
Printer looks good and sadly it comes only in greyish cream colour with top trays in thick grey color. Does not come in full body black. Not ugly looking but I prefer full black.
Dimensions are slightly smaller than HP. The most attractive point is the toner refilling. It can be refilled locally for around 500 bucks. And the original toner costs only 1500 bucks
half of what the HP toner costs. Can handle Letter, A4 and legal size papers but not envelopes. (HP can even handle regular size envelopes).
Print quality is very much acceptable for a home user and text looks sharp and clear. Comes with a power button and two indicator LEDs (Green and Amber) for status indicators on the front. Decent print speeds with 20 ppm.
Now the cons:
1) Power button is of Press and hold type to switch on or off
2) If there is no paper or there is a paper jam, the printer stops and the amber LED starts blinking. You need to put the paper or remove the jammed paper and again press and hold the power button to tell the printer that problem is cleared. Hp is much better than this. For HP simply clear the problem and then press OK button in the window. Seems Brother is light years behind HP.
3) Cannot print envelopes. Only Letter, A4 and Legal size papers
4) Power cable is non detachable and fixed. I wonder why.
5) Build quality is not at par with HP, but acceptable.
6) I had downloaded and installed the latest drivers from Brother website, but still the printer is shown as HL-1110 but not as HL-1111. Not sure why. But the printer works perfectly though.
Still I don't say this is a bad one, but there are some areas of improvement. If you do not print envelopes and only deal with the above mentioned paper sizes and on very tight maintenance budget, you can surely go for this for low maintenance costs. Printer cost and refilling cost are damn cheap.
A notable point -- I had enquired around with 4 dealers who deals with HP, Canon, Ricoh and Brother printers and not a single dealer recommended Canon LBP6018B. Ricoh, though available, the basic mono laser cannot handle legal size paper. So did not go for it.
Thank you icebags for all your suggestions.