Motilal Nehru is a morning college whereas Shaheed Bhagat Singh College (SBSC) has both morning and evening colleges.
At first, you will have to decide your preference for the timings. One of my friends graduated from Motilal Nehru College (Day) and has had flatmates studying in evening colleges. According to him their routines were completely different. So, the choice completely depends on you and which time of the day you are comfortable with.
Motilal Nehru has a competent faculty, with spacious new buildings, library and good placements. They also have active societies such as Enactus, DebSoc, Archon Leadership Cell and others.
Another benefit of being in Motilal is that it is located in the South Campus and is always crowded. This crowd attracts the building of proper hangout places. Its Satya Niketan market offers good places to eat and good coaching centers.
On the other hand SBSC (E) would only give you the benefit because of its past reputation, good sports infrastructure and its proximity to Select City Walk.
Therefore make an informed decision as this will be motivated towards the shaping of your career.