if you want a good hotel and you don't mind that it is expensive, The Park is a good option between the luxury ones. A huge hotel in downtown with retro style and lot of details. For sure you don't want to leave it.
Paharganj hotels are impersonal but the Hare Krishna maintains that minimum of decency and order to sleep. good restaurant on the roof top to relax in the chaos of the city. It is perhaps a little more expensive than those in the vicinity.
Clean rooms and different prices in the central street of Majnu ka Tila Tibetan neighborhood. Far to the heart of Delhi, but very quiet.
Ideally located in Pahar Ganj, Jyoti Mahal is a place where you can relax. Picturesque bedrooms, all decorated in their individual character. Heritage 3 stars in a really special place. I think, you cannot find a hotel like this in all Delhi, talking about quality-price.
Jyoti Mahal Guest House
nalwa street. (behind Imperial Cinema)
if you want to make more comfortable your entry to india, this is a good option, less expensive than large hotels and the feeling of being almost home.