Nexus 7 won't be launched officially in India, ever. It is a tablet meant for content consumption and google sell them 0 profit. They intend to earn by selling books, songs, movies, magazines etc through the play store in the US. People in India hardly pay for any content and it is pointless for google to launch it here in India at this price. This is the same reason for which Kindle fire wasnt launched. No point in waiting for it to launch officially.
I had a relative flying down from the states and told him to get me a 16gb one. Cost me 14k approx. Warranty is an issue but I am willing to overlook it considering I am getting it so cheap.
Project butter is truly amazing. Never seen android so smooth. You can actually feel the pixels passing below your fingers
My only gripe with it is fixed storage, thats why I ordered the 16gb one!