Try B-19 or Sheraton cash & points if available
I stayed at both these hotels last year and would recommend them both. B-19 (B-19 Nizamuddin East, New Delhi) is more of a boutique hotel, but very clean, friendly and quiet - and very reasonable for Delhi. The Sheraton was like any big hotel and I would never have paid the rack rate, but was able to get it for $40 + 4000 Starwood points per night, so was well worth it.