I agree with Nikhar and don't think its worth any more than reg fee at the moment. Although there is a place for .co.in now and in the future, the extension is weak compared to its .in counterpart and sales are rare in the current market. The keyword combination is pretty poor too with only 20 searches per month in India and 590 globally for the phrase "host site" according to google keyword planner, so I can't see how it will ever be "driving huge traffic", unless thoroughly developed/optimised.