The best place you can hangout at two really best options are GTB nagar you can get straight yellow line and you get tons of restraunts,pubs, cafes at half price than Connaught place this all is what you need to do. Another is Satya niketan that has many cheap outlets to hangout with friends and for that you need to go ina from yellow line and change to pink and reach Satya niketan go on my words you won't be dissapointed