At first glance, the DU Admission Process seems highly complicated and pretty confusing, but in truth it's anything but that. Yes, the colleges are perhaps given too much say in terms of the kind of students they want, but at least the university tries ensuring that the process is more or less transparent. Allegedly.

Here's how it goes..

1. As per the new admission procedure, most of the post-exam hard work is done by the colleges and not the students. Students just have to just wait and watch before the colleges come out with the cut-off lists. Like earlier, the students don't have to fill the pre admission forms of each college individually, just one form needs to be filled at the university level (either online or physically).
    
2. After the 12th standard results are declared, all the colleges under the University of Delhi prepare a cut-off list on the basis of past experience and the current year board exam results. These lists are displayed on the website of University of Delhi (www.du.ac.in) and/or on the notice boards of the colleges. 
    
3. You need to check the relevant cutoffs - Make sure you know which category you fall under (there's more to the word 'category' than Open, OBC, SC, ST... Most colleges need you to meet separate criteria depending on the subjects you have chosen in your 12th board exams)
    
4. If you've managed to clear the cutoff of your dream college, well congrats, head straight to the college and claim your admission. If not, you better secure admission in the best college amongst those where you have been able to meet the cut-off criteria. You need to pay the required fees and complete any other admission formalities at the college. The college will have to admit all the students who have met the cut-off.
    
5. Now if there are any vacancies, colleges come out with subsequent lists again displayed on the website of University of Delhi (www.du.ac.in) and/or on the notice boards of the particular colleges. 
    
6. If you wish to upgrade your college (provided you clear the cut off criteria) you need to cancel your previous admission, collect your original documents and retake admission in the new college. 
    
7. An average college normally comes out with about 4 lists, and almost all the seats get filled up in those, but you can't expect the cutoffs to fall too much in the later lists, especially in the sought-after courses.

Special Note:

All courses in most colleges have different cutoffs for students who have selected different combinations of subjects for their board exams. Now when you're told that SRCC has a 100% cut-off, note that it is just for one of the combinations. This is done by the college in order to filter the kind of students they want from the rest.