Try getting the latest model Mehran you can get - no decent Cultus will be available around 5 lacs, and it's quite old.
I have a Khyber myself, and I can tell first hand that it's not exactly cheap to maintain. The bigger problem is that quality parts are becoming increasingly rare now.
A Mehran isn't exactly cheap to maintain either, but at least quality spares are easily available. It will also be much newer than any Cultus, Khyber, or Margalla.