Several domain registration companies provide domain name for less cost which can be used to create a website. domain name have different extensions and each have different amount. If you want to register a domain name you can register it with .com, ,org, .net, in, .info and many more. Each cost you differently. While registering your domain name register it for one year as if you register for more than one year the cost will be comparatively high.
If you register a domain say www.corporatetoday.org and it cost $10 for one year and if you select for 5 years it will cost $260 for 5 years instead of $50 .so its better to register for one year and you can renew it after one year at less cost.
.info domain name costs only Rs 100 and .com domain name costs Rs 600 and .net cost Rs 515 etc.. You will get the rate from the website you are registering the domain. If your name is not available for .com domain then try using other extension.
If you register your .info domain for rs 100 you can link it to your blog so that no need to pay for hosting or you can buy hosting from the web hosting company and create website and host it.
Some companies provide free domain registration and free hosting for any one but the domain name will looks like www.yourname.50webs.com or www.yourname.freeservers.com etc the company name will be there in the domain name and there will be ads serving in the website. Here there is no expense for the website publisher.
Bulk purchase of domain name costs you less and in Godaddy you can register your domain name in multiple extension for less cost. Some provides .in domain name for Rs 99. You can renew if you want or else it will expire. If you like to renew do it before it expires as once ts expired you cannot renew it.