Of a couple of hotels along this road in Mahipal Pur with really tons of hotels, they were the ones that made the best deal for us (around 1200 RS) AND still had acceptable rooms.
(In any case, try to bargain with all of these hotels near Airport, they do give quite some discount from their listed prices.)
Some rooms facing the main road have quite good views towards the Airport, but those in the inside are more quiet. Some of the rooms have a little smell in them, but they showed us 4-5 rooms and one was okay (quiet and acceptably clean).
The staff was really friendly and helpful, and the food was also okay. Wake-up-service worked.