I remember those day, when I used to drool over the words "water cooling", mainly because of the price and skill required to assemble one. But over the past couple of years, it is becoming more affordable, mainly because of the efforts of companies such as Corsair with their Hydro series of cooling equipment.
Today corsair released a new addition to their series of liquid cooling kits. The H40 is an entry level kit, which has a 120mm fan and uses an Aluminium base. It comes with a price of just $59, making it one of the most affordable kits in the market. Hope it comes to india with a price of about Rs3000, so if you want to have a water cooling kit for cheap, this is definitely a good option.
http://www.corsair.com/hydro-series-h40-high-performance-liquid-cpu-cooler.html