Registration number is one of the important factor in calculating the motor premium amount. And metro cities are high risks areas so you would have to pay extra premium. But as your vehicle has registration number of Meerut, you will be charged less premium because most of the IT system take it as your area of operation is non metro - Meerut (on the basis of registration number).

Note - But please mention in the insurance proposal form that you live and work in Delhi, so you won't face any problem in case of claim.