Honda City all the way!
In fact this comparison seems to be a disrespect to Honda City (that too Aspire 1.5).
Cultus mileage in Karachi city with AC I have seen till 13-14km/l, City Aspire 1.5 would approximately be same. (assuming a mediocre driving style)
Cultus resale, if not loss, would cover the initial price whereas Honda City might be resold with surplus assuming car in maintained internally and kept original externally. Its worth mentioning that considering the price hike of new cars in past 1 year, resale value should not be a point of concern.