Does anyone know some publicly traded fund or similar for Indian
property? I am a US citizen and I would like to invest in the Indian
property market. Preferably with buy in amounts not more than 5000 USD

Hi,

Currently the reputed property funds available in India are mainly
targeted at Institutional investors and High net worth individuals
(HDFC Realty fund, ICICI real estate fund, Morgan Stanley Real Estate
Fund etc.). Consequently, the cap of USD 5000 would not be sufficient
to invest on one of those.

However, if you are interested in gaining a entry in the market
indirectly, you can get into a Infrastructure Mutual Fund (these
invest in Real estate companies, among others). An excellent example
is Tata Infrastructure Fund, which is investing in almost all the
public-traded real-estate companies in India

(http://www.myiris.com/mutual/scheme/portfolioDetail.php?fcode=TATA_MF&icode=TATINFFUN-G_SC&cat=Equity&fm_code=MVENGOP_FM&family=Tata+Infrastructure+Fund)

Hope this is useful

Take care

You can go through this website also that helps nri and pios that is
non resident indians to invest into indian mutual funds online, they
charge minimum or you can say lowest commissions and fees in the
industry:
http://www.nriinvestindia.com/how_to_invest_indian_mutual_funds.html.html