Hi,
May i know why is the bitcoin price on this particular exchange is way low? legit?
As of now the price ranges 7000 to 8000 usd, so if i deposit 8000 usd and withdraw 1 btc here is possible?
It is because there is still a little low trading volume. If you can see a sell order for 8000USD, then you can buy for 8000USD, however it is likely that by the time you deposit, that sell order will be gone

The value will be up to normal once the exchange gains momentum and liquidity. Nothing unusual there.