After running pillar to post, thanks to MTNL, I stumbled across this relatively new ISP in my area(South-West Delhi). I went through their website, https://excitel.com, and was amazed bye the plans they were offering. It was a clear bang for my buck. The plan that matched my current MTNL(4 Mbps) was the 5 Mbps(truly unlimited) plan at half the cost, Rs 749(now 759 as the service tax has increased). After doing some local R and D in my colony, asking some of their present customers I decided to give this a try. These guys offer services over fiber cables, which comes upto the node( i.e. the box which sits on the pole) and from there the ethernet cable runs to your house, so you would need a bb router.
Now coming to the internet service, the local provider was quick enough to set the connection up and running the very same day I requested them for the same.
Initially I did not get good speeds(by good I mean peering speed of 20 Mbps in the 5 Mbps plan). When I contacted the local cable for the same, he was honest enough to accept that its a fault at their end as the fiber has to be replaced for which he asked a time period of 3-4 days. After 4-5 days I got the promised speed i.e. 5 Mbps internet and 20 Mbps peering. Friends, believe me I have removed the word buffering from my Youtube dictionary, now I do not settle for anything less than 720p.
Now coming to the main concern, stability of the connection. Till now I have almost had a good experience with this connection when it comes to stability. In 14-15 days time I had downtime once in the night. This, in my opinion is acceptable for the price your are paying the service you get.
Finally I would just like to say that these services rely heavily on the local providers infrastructure so its advisable to some research before investing your money.
I would keep you updated when I have spent a month or two with this ISP.