Infibeam.com is offering Apple iPhone 5 16 GB at the best price of Rs. 44500 with  Free Shipping, Cash on Delivery, Free Gifts, Manufactures Warranty and delivery time of 2-3 working days. The phone is available at MRP of Rs. 45500.
 
The phone is available at snapdeal.com at Rs. 44900 with  Free Shipping, Cash on Delivery, Free Gifts, Manufactures Warranty with delivery time of 8 Working Days.

Sources :  http://www.telecomtiger.com/bestdeal/bestdeal_fullstory.aspx?brandid=51 
 
The phone comes with 4"Retina Display, iO6 OS, iSight 8MP Camera, HD Video Recording. It is Siri Feature enabled, Thinnest, Lightest and has Fastest New Ear pods and Connectors and 16 GB Storage Capacity.

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