Location is a primary indicator of context and forms the core basis of several context-aware applications. Most common way of getting location information is to use specialized hardware like GPS. However, GPS is expensive and is available only on high-end phones restricting its use to a smaller population in developing countries. Further, GPS also consumes a lot of battery power during its operation, thereby making it infeasible to run for longer durations with limited mobile phone battery. An alternative to GPS-based localization is GSM-based localization that is more suitable for developing countries due to much lower power consumption and ability to run even on low-end phones. Currently available, network-operator independent, GSM-based solutions require building perceptual map of cell towers in a city using war-driving.In this paper, we present a novel low cost GSM-based solution based on Cell Broadcast (CBS) Messages. Location accuracy in our approach does not depend on building extensive cell ID database, typically built using war-driving. We present empirical studies (performed in the sub-city of Dwarka, New Delhi, India) comparing location accuracy of our approach with other GSM-based localization scheme that uses one of the most extensive open source database of cell IDs. We also compare power consumption of our proposed solution with GPS-based localization leading to energy-accuracy tradeoff that can be further exploited for a hybrid solution.