You can search for any old or new Bollywood songs and albums in Google Music Search and stream it online from Google’s Partners. The site is in labs and therefore we may expect many new features to come.
The disadvantages are, it does not search for songs in regional languages, it uses the flash player to stream songs, so people without flash players (Mobiles including iPhone) will not be able to use it. You cannot create playlists and there is no direct option to buy music. But since the product is in labs, these features may be added in the future.
As for now you can search for any Bollywood songs or albums by title, artist or by the name of the actors acted in the film. a search term like “new songs” will list all the latest music sorted by release date.
Check out Google Music Search and share your perceptions with us.