1. Don't go for the biggest size, look at the space you have and see what size tv do you need. (40 inches needs at least 5 feet viewing distance) 2. LED tv's are thin compared to LCD but once you put it on the wall it doesn't matter if its 2 inches or 10 inches.
3. Now above 40 inches are all the rage, if you go for a 40 or below you will get a good price almost half the price.
4. In most showrooms brightness is set to maximum which you will never use at home, it's too bright. So reduce the brightness to half and see if it looks good and then buy.
5. If money is not an issues go for LED or stick with LCD. If you have HD set-top box LCD is more than enough.
6. Don't get stuck by all the specs, look for what you need and if its good and in your price point buy it.
7. Think about the HD content expenses too. You need a HD set-top box to hook up with your LCD or LED tv. HD set-top boxes from Tatasky, Reliance, Dishtv etc cost around 5000 Rs. You will have to pay around 4000-6000 Rs per year as subscription fees for HD channels package.
8. Bluray and HD dvd players are also priced around 5000-10000 Rs. Blurays costs 500-1500 Rs, so take all this into consideration before buying.
9. USB content playback is a plus on tv, make sure it plays usb videos too.
10. More the HDMI ports the better, Wifi is also a good thing in tv's now a days.