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Best option would be to check in quikr / olx websites with location set as Chennai. There are lot of used bikes listed everyday, you can call the owner see the bike in flesh and buy if interested. But always make sure you are get the bike checked with a mechanic, especially the engine. Most of the owners sell their bike when problems start creep in.

At 30-40k you can look for a used Karizma/ karizma R.

Used karizma? How much old do U think I will get for 30k.? No chance of getting a bullet in working condition? I don't know anyone in Chennai whom I can rely upon. So thought of getting reference to some reliable dealer of bikes . Xbhp classified is also not showing any favourable update

Crush the dreams of bullet..no way you will get a good one for that kind of money.
You can't get any honda bike too in that range,above 150cc(Only option is 250r)
Look out for a 220,apache 180.
Check out olx and quickr,don't go to dealer if possible.

Why dont you look out for a 2009 or 2010 Pulsar 180 Ug-4?
I hope you can get a good 2009 model Pulsar 180 Ug-4 in 35-38k.
Next, A 2006 karizma or a 2007 model Karizma for 36-39k.
Coming to Bullet, Those days were different, when CAST IRON ENGINE EQUIPPED BULLETS WERE SCRAPPED FOR RS.3000/- TO 4000/-
As they went out of production, People realized their value, their thump, & the demand for them raised a lot, & for example a Bullet standard 350cc bike is bought for Rs.12,000/- in year 2007, even if its not in a running condition & kept aside since 4-5 years, today you can sell it today with ease for Rs.30,000/- (so its impossible to get running bullet for 35-40k, incase even if you get it, definitely you should spend atleast 10,000/- to 12,000/- more for its MINOR REPAIRS)
So its better you search for a 2006 or 2007 model Karizma or a Pulsar 180-UG4
Do take a good mechanic with you before buying.
All the Best.
Ride Safe..!!

Unless you are not in a hurry, I would suggest you to steer clear of the dealers. There is very little chance of getting a bike ( that too for a reasonable price) from any dealer. This is irrespective of the state you are in. As the other members have suggested, look up the online portals like sulekha, quickr, olx for any good deals.

First of all, you won't get ANY Honda bikes within your expected budget, except maybe for a couple of Unicorns. Coming to Hero (HH), the only model above 150cc is a Karizma and you can get a couple of first-zen ZMAs for 40k. Do make sure you check the bike very properly. Do check on OLX.in as they have a very active and competitive market compared to other online portals (quickr/ebay/sulekha). Avoid brokers at any cost - ensure that you're buying from a genuine owner only.

I really wouldn't recommend used Pulsars. A better idea will be to search for Apaches or Avengers.

Used Karizma's (even ZMA R's) are a plenty out here in your price range of 30-40k, even 2008-2009 models are available. But again, you need to check the condition of the bike thoroughly before buying, as ZMA's are usually abused by the young fellows who own them. Check here,
karizma in Cars Bikes, Chennai