You might save $250 but what if it backfires? If you have more than 1 luggage, the DEL to KTM flights (I believe all of them) charge for extra baggage, which might be somewhere from $100 to $150 depending upon the weight you're carrying. Add the hassle of being in an Indian airport, and losing your belongings, plus any flight delay, and those 4 mere layover hours to get everything back on schedule and you might end up regretting. I'm not saying this WILL happen in your case, just sending you a caution so you might reconsider.

Jai Nepal!!