In the other semifinal, Pool B champions Punjab will take on Tamil Nadu at the Shivaji stadium tomorrow.
The final day of pool matches, Karnataka opened the scoring in the 13th minute through a goal from Shankar Patil before Deepak Bijawad doubled the lead in the 32nd minute.
Delhi, however, made a strong comeback after the change of ends and scored twice through Atuldeep (36th minute) and Pradeep Khatri (52nd) to restore the parity.
Delhi managed to reduce the margin, courtesy an own goal from Karnataka in the dying minutes of the game.
Meanwhile, in an inconsequential match Haryana came up with a spirited effort to get the better of Manipur 5-3.