I agree with rider, get it from a reliable source and the chances of getting a lemon device are negligible.
Saholic, started portraying nexus 4 on their site since Feb and they keep pushing ahead the date by 15 days. Their tactic of crying wolf is really frustrating and cheap to get publicity!! They had the date set to 20th April lately and if you check their site now, they have replaced the date with coming soon
Speaks volumes about them
No point waiting, get it now and enjoy the device. It is amazing! I would honestly purchase the nexus over any device in the market. If it does release officially in India Im guessing it will be atleast 30k, since the Optimus G sells at 30k and LG will cry foul if Google wants to sell the Nexus at any less. You can purchase the Nexus 4 now for 25k and in the case of official release, you can atleast get paid repairs in case the device has moderate hardware damage issue later. In that case the cost of repairs+original cost will be roughly as much as getting the officially released version.
Considering other upcoming phones, there are phones with upgraded processors coming up, but Snapdragon 600 is hardly an upgrade over the S4 pro and those new phones will be in the vicinity of 40k or more. Both SOCs have the same GPU(adreno 320), which is more important for gaming and stuff. And again faster processor doesnt necessarily mean a faster experience. In that department Nexus will be king. I have seen my friend's Xperia Z stutter in the UI and overheat when playing games. It is a fact that the Xperia Z throttles down its clock speed more than the Nexus 4.
Only good upgrade processor-wise would be the Tegra 4 and the Snapdragon 800 processors, but they wont show up until the last quarter of this year and by then the Nexus 5 will be rocking! Motorola X Phone is a worthy contender but Motorola is non-existent in India so wouldnt be a good choice here.
Nexus 4 gives you the best specifications at a very reasonable price with assured software updates. And if there are any rare bugs in the Nexus firmware, trust me Google will resolve it swiftly. Same cant be said about other manufacturers. There was a december-related calender bug last year in Jellybean. Google resolved the issue in no time and pushed out an update to Nexus devices. In case one wants to explore beyond stock firmware, the development community for nexus is HUGE!
Currently the best phones run on the S4 krait quad core SOC with adreno 320 GPU. Nexus 4 is the cheapest of those devices and undoubtedly the smoothest in operation.
Compared to Xperia SP, it is a no-brainer IMO if you dont worry about warranty. Get the the Nexus 4! Its got 2GB of RAM, so will get lots of Android updates(since RAM is usually the limiting factor) and it is future-proofed by Google. You will glide through 2 years with ease on this phone without if feeling slowed down. Want a reason to make every other Android phone user envious? Wait till 15th May and you will get one