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I am trying to decide if I should go for a submersible pump or not for my sump. I could think of the following pros and cons

Cons :
1. Almost twice the cost of a regular pump.
2. Repairs may take slightly more time since the pump is submersed.

Pros :

1. No space required to house the pump.
2. Slightly difficult to steal
3. No noise and no interference once installed.

Request you people to list anything important in either section that can help me decide.

firstly see budget. if you are tight on budget then go for ground pump. u can make a somewhat sound reducing enclosure like that of generator or make a drainage box type to keep the pump below ground level so that it is not seen & can be locked.
anyway its a one time investment & pumps rarely come for repair. if u have budget then go for submersible.

By submersible pump and ordinary pump at ground level , I assume Openwell submersible pump and Monoblock Selfpriming Pump.
Open Well Submersible pump Pros :
a) Installation is easy as it requires no foundation nor foot valve .
b) Overheating for longer operation doesn't arise as it its immersed in water , hence longer life.
c) Biggest pro , is the Litres Per Hour delivery , for 18 mtr head the submersible pump delivers approx 6000 lts and the monoblock approx 2000 lts for a 1 HP. Hence Submersible pump is efficient, and will save you electricity , Perhaps you will recover the cost difference in 2 years.
Texmo Openwell 1HP submersible pump is around 9000, only 4000 Rs or less difference compared to Monoblock. If you go for Monoblock pump, consider the cost of grills ,pump foundation, foot valve etc, you cannot build the enclosure just like that to reduce sound, the motor needs air circulating around its fins or else it will burn the motor.

Even I had the same questions and finally decided to go for submersible pump. Now I am trying to decide between sharp and texmo. My contractor says he has been seeing sharp in several houses he has built and the quality has been good. 1HP sharp costs 8.5 and texmo about 1k more then sharp. 1HP monoblock texmo was 4.8k.

Submersible pump (Open well) pump gives almost 2.5 times discharge compared to suction pump there for saves power and time to fill. Cost is 80% to 100% of suction pump but considering additional plumbing needed for suction pump cost difference could be in the range of 40%.