@ketansrihas: my first advice to you would be to wait for 2-3 months if possible.
If you can not wait then as per your req the P220 is out of the list as you are looking for a reliable bike. Between Zma and R15 I would recommend R15 as it has better fuel economy(40+always), much better handling and braking. There is hardly any difference in pickup and topspeed between Zma and R15 but P220 is definately faster than both.

I beg to differ here Surbhit. I agree that P220 is faster than both ZMA&R15, but R15 has the highest top speed. Pickup certainly P220 wins hands down.
Anyways, I don't mean to start a debate here.
@ketansrihas: If you have the moolah, go for the R15. It is a marvellous piece of engineering. Of course, like every other bike, it does have its flaws, but there are ways&means to cope with them too!

The prob i heard in R15 is the chain .
Its so delicate and the chain must be lubed for every 500kms and is it easy to DIY the lubrication

@ Ketan: As Said By Aditya Go For R15 If You Don't Look For Budget
& If You Want A Different Bike Wait For RTR 180 Said By Sarvajit
If Any Doubt Search In What Bike Section For My Thread Target ?
Though I Didn't Include ZMA Insted Of That RTR 160 FI Were You Said City Riding & Lil Touring I Suggest TVS APACHE RTR\FI(160 Even 180)(Not On Your List)

Ps: What's Your Height & Weight ?

Wait for RTR180, it has the potential to put some heavyweights to shame...
or if you are eager to buy http://bikeindia.in/reviews/shootout...orce/Post.aspx

Misconception.

Truth =
R15 has one of the best chain & sprocket set. For God's sake, it is a DID chain!

But, as with any open chain, it gets dirty and needs some attention (clean & lube every 500 odd KMs). As with any O-ring chain, it makes some noise.

If in doubt, pls check the manuals of any bike with O-ring chain and the chain maintenance would have this mentioned.That includes every bike we spoke about here in this thread, excluding the Karizma.

Another misconception.

Karizma has THE most relaxed engine among the lot at high-speeds. Yes it has less torque than the P220 and lower pickup than the P220 & the R15... but the difference is not a huge one. Again, that's the character of the bike. The relaxed (some call it lazy) engine is a boon for cruising and the smooth & reliable Honda would not need you to buy that screw near the piston so easily. Honda's last to be outlasted by another Honda. In this matter, neither the hot & madly accelerating P220 nor the high-revving R15 or even the high revving & madly accelerating RTR's should be able to match the Karizma's engine life - this is a matter of general physics - more heat & higher friction damage moulds easier/faster.

I just hope this post would not be considered flaming material. If you want me to say some good things about the P220 too, please post something bad but not true first

Ah! and the mileage - Karizma gives me 36-37 and R15 gives me 39-41 in similar conditions. P220 is also in similar range. Even highway mileage of all the bikes are more or less in the same range. You can trust the numbers if you want to trust a person who has toured reasonable well with a team of one Karizma One P220 & One R15. Now, for a surprise, the RTR too delivers similar mileage than these three if toured along near & over 100 KMPH mark. Thr RTR needs to be kept under 90 KMPH mark and with a soft hand on the accelerator for better mileage.

I am ready to spend for the R15

My height is 5.9" & 52 kg

Perfect,Get The Bike & Post It On R15 Ownership Thread
All The Best

Hmm i thought i should wait until the launch of new 220

Never Mind Listen To Your Heart Says

This pinches me for the ZMA

^^^ that makes me grin....

But you should still ride all three and then decide.

Hands-down ZMA is the best bike for touring, still try all 3 and decide you will be in a better position

waiting for the RTR 180 would be worth too....

But the apache sitting position is uncomfortable for me bro
I drove it. The handle too vibrates at speed of 80. Though the response of the bike is very good.