Guys, i have been selected into HMC as well. My interview was in June in Mumbai, and i am awaiting more details on the offer as well.
But a friend of mine, who has a relative who joined HMC IT a few months ago tells me good things. He says, things are pretty good for him. They gave him acco in a good flat constructed recently - he moved in with family of 2 kids. And hes quite happy there and has been recommending others to try and get into HMC.

Sun, did you join HMC a while ago ? have things changed now ?

True bout the salary though, There is no standard and it really depends on how you negotiate. On hindsight, i got a good grade, but think i shud have asked for more