The Lava Iris 456 with dual SIM support and powered by dual core processor running Android 4.2 is listed on Flipkart website for Rs. 7,018. The Iris 456 sports a 4.5 inch screen and comes with 512MB RAM.
I think it will be using the same MT6572 dual core processor with Mali 400 GPU. The MT6572 is clocked at 1.3GHz but on the Flipkart website it is mentioned as 1.2GHz. The IPS screen is 4.5 inches with 854×480 pixels resolution.
Android 4.2 runs on 512MB RAM and 4GB storage. Of the 4GB storage 1.27GB is assigned for apps and 1.27 as the phone internal storage. 32GB external micro SD cards can be used. The Lava Iris 456 dual SIM handset houses a 5MP auto focus camera with BSI sensor on the rear with flash and 1.3MP fixed focus placed on the front.
Handset weighs about 147 grams with 10.45mm thickness. Key features are 3G (21Mbps), Wi-Fi and Bluetooth. There is no mention of GPS in the specifications. The Battery is 1650 mAh.
Lava Iris 456 is priced at Rs. 7,018 and currently out of stock on Flipkart.