My height is 5 feet 4 inches. Will TVS Akula 310 be a good option for me?

I would recommend you to go for a cruiser bike such as Royal Enfield Thunderbird or the Bajaj Avenger. They both fit in your budget and would perfectly suit your height as well. Bajaj Avenger is a 149 cc single cylinder bike capable to produce 14.3 Bhp at 9000 rpm against a torque of 12.5 nm at 6500 rpm. It has got a seat height of 725 mm and top speed of 105 kmph. Moreover, there is no information about the launch of TVS Akula for now. Since this was a concept bike by the company, there are no proper specifications for its seat height till date.