Suggestion on buying a new smart phone

[Grr]

Bro, then how much should I spend for a good phone?

i don't want to settle for an older model

[Ashwin]

Bro, then how much should I spend for a good phone?

i don't want to settle for an older model

Just head over to flipkart and browse for Android Mobiles. You can google about the models or read about them at GSMArena to check if they are the latest ones or not.

Here is what I got when I filtered it to your requirements:

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[Avinash]

If you are ready to increase your budget then HTC one V is a good choice which comes with

• Android v4.0 (Ice Cream Sandwich) OS
• 5 MP Primary Camera
• 3.7-inch Super LCD 2 Touchscreen
• 1 GHz Processor
• HD Recording
• Wi-Fi Enabled
• Expandable Storage Capacity of 32 GB

update :

Looks like this phone has some issues and it didnt worked well for some users who bought it.

[Ashwin]

Here is a comparison of Moto Defy+ and Sony Experia U

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I would pick the Defy+ for its bigger screen and better looks .
You can just head over to GSMArena, search for any model you like, click on compare and add another model you like.