I was looking at the following phones before I got this.
MotoG, Motox
Nexus 5
Sony Xperia Z
Samsung Note 2
Samsung S4
Iphone 4s
Finally decided to go for the Note 3 - Neo.
Exchanged my old smart phone(3yr old HTC Sensation) and got about 5k knocked off from MRP of 34k.
Definitely worth buying, if you are looking for a big sceen, long battery life phone thats not only fast but has unique features like the S-Pen.(Handwriting recognition is incredible. I have one of the worst hand writings. and this device recognizes all the words!)
When comparing with Note 3.
There are big differences like RAM, Core, 1080p display and 13mp camera.(Thats where the extra 10 to 12k is) but its way better than Note 2, on all aspects!
So its closer to a Note3 than a Note 2