Costed me only Rs.2500/= or $55. I have been using it for more than 2 years now and has not given me any problems. I take 10 to 20 print outs per week which is a moderate usage and not heavy.
The main idea of pricing these printers cheap is to gain money in refill cartridges!
So what you should do is get the best printer namely HP and refill them with 3rd party inks. One refill costs Rs.70 here in chennai at Ashcom in nungambakkam opp to Voltas. This can take upto 200 prints in fast drafts!
Never refill colour catridges as they dont give good results. But black cartridges give good output near to the original.
we can refill the same catridges for more than 4 times and then have to buy the original cartridge costing Rs.800/= for black and 1000/= for colour!
The only problem with refilling is that the ink gets smudged if you touch the printouts immediately after printing. You have to allow atleast 5 seconds to 10 sec for drying.
Overall it prints faster than its rivals and its ink capacity is more than cannon which prices its catridges for a cheap price ( around Rs.300/= ).
HP printers has its head in the catridge. so refilling inaccurately may cause damage only to the catridge and not the printer!