This is a keyword rich domain and a brandable as well. Mate the Indian market is far away from developed. The main reason is the lack of understanding the importance of a domain in the whole marketing campaign of the company. These senior level executives are dumb heads when it comes to building a new brand on category killing domain names. Some of them understand and they have build strong brand names like Shaadi.com and Naukri.com. Most of the Senior Managers are happy to spend millions in conventional forms of marketing than invest in a decent domain and reap the benefits. More so some of the so called cool young SEOers prefer to call domains URLs.
LowCost.in could be an ideal platform for a website citing low cost services in different cities. The website would become priceless. And I piece of advice to all domainers on this forum before you approach a potential Indian buyers - put up a small one pager on any domain (no matter how good) before you approach the buyers. Calling it a website sale and not a domain might reap better results.
It is a famous term but less famous than "Cheap". Every sixth person on this planet being Indian it has huge potential if you develop. I say again a proper website would be worth a fortune down the line.
Its a great domain promoting low cost.... only hurdles I see is someone launching lowercost.in or lowestcost.in (Both of which are currently available BTW).