During my last trip (June 2006) I took a pre-paid taxi. The prices started from Rs 350 for Indica and I negotiated Rs 550 for a Tata Sumo (had a lot of luggage - 3 passengers).
BenDC - I stayed at the Shangri-la and I agree it was superb! Awesome rooms and excellent service! No one bothered for tips and you were greeted by name in the lobby (eben though it was my first time there).
I am trying to use points this time for a "free" stay at either Sheraton or Le M.
Thanks to you all for the helpful information!