If you are going to work on the project full-time, 3 person $3000, so $1000 for each for 3 months. For a month you will probably gain $250-$300 when you reduce the expenses for hosting.
I don't know the minimum wage in India, but if the price is not 3-4 times more than the minimum price of the employees in the country, I would not say you are charging too much. Of course, this will depends directly on your experience in the field.