If you're looking for a modern room for a low price, you won't do better than the Fenix Inn.
Compare rates for other places to stay around Melaka on Agoda.com
There are 68 rooms in a variety of lay-outs suitable for everyone from solo travellers to families, and all have air-con, comfy beds, satellite TV, free WiFi, coffee/tea maker and squeaky clean ensuite bathroom. The cheapest rooms are windowless, but the bright decor means they don't feel gloomy. The location is very close to Melaka's malls and the historic area is within a 15-minute walk. They can also arrange bus station pick-up and drop-off for reasonable prices. Look for a reddish building with the namesake bird painted across the front.
Type of room, low and high season prices
Room: Standard double room, low season: 80 ringgit, high season 80 ringgit. Notes: Upto 123 ringgit
Room: Family room, low season: 115 ringgit, high season 115 ringgit. Notes: Upto 158 ringgit