26 year IE Business school student, Indian who's on a very thin budget, looking for accommodation in Madrid.

I am a 26 year old Entrepreneur, author, cartoonist, creativity-trainer and a happy individual, about to pursue my MBA in IE Business School. I don't smoke or drink, but I have no problems with my flatmates smoking or drinking. I come from a conservative Indian family and I speak Tamil, Hindi and English fluently. I've started learning Spanish and hopefully by the time I reach there, I can speak something other than Hola to you. 

I am on a very thin budget, thanks to the exchange rates of Rupee against Euro. I am looking for an accommodation at around 260EUR/month with bills included. All I look for is a peaceful, ventilated, comfortable room to stay during the time I study in Madrid. Though Madrid is well connected, I would like to be close to the university (max 40min travel time.)

I would like to have a roommate/ roommates who love to accept, share and learn new cultures, people who are friendly and accommodative. I have no friends or family members in Spain and the people whom I share the house with are going to me my first friends, brothers or sisters. And yeah, by the time I reach there, my first novel would have been released and I promise you a free copy. :)