JLN Stadium redevelopment may reinforce Delhi’s ultra-premium property market appeal, not drive major price shifts

Jor Bagh, Defence Colony, and Jangpura, which largely comprise redeveloped apartments, may attract high-value tenants drawn to the enhanced wellness and sports amenities the project offers, potentially driving up rental values in the area, say some experts.

The Doha Sports City is spread over 617 acres. It has facilities for football, aquatics and 13 different indoor sports besides an academy. It also houses a specialised orthopaedic and sports medicine hospital. Australia’s multi-purpose facilities include the Docklands Stadium in Melbourne that can host cricket, Australian rules football, rugby, cricket and soccer.

“Out of over 100 acres, only 28 percent of land is currently used in the infrastructure. If you look at the modern sporting venues across the world, the stadiums are all multipurpose competition and training venues. Technology has changed so much that one stadium can now accommodate so many disciplines. The new Sports City will be a multi-purpose sporting venue, with sports clubs, residential facility, avenues for entertainment etc,” HT quoted an official as saying.

“With India pitching to host the 2036 Olympics and 2030 Commonwealth Games in Ahmedabad, we want to build the best infrastructure in sports that can be utilised to the full,” the official said.

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Property prices in such premium neighbourhoods typically see an uptick only when supported by new infrastructure developments such as flyovers, decongestion measures, or improved connectivity, he explained.

He also suggested that for the project’s long-term sustainability, portions of the new sports infrastructure could be leveraged for income generation, for instance, by hosting private events or permitting limited commercial use. This would help maintain the facilities at world-class standards and ensure the project’s financial viability over time.

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Having said that, if a project of this scale were to come up in a new or peripheral area, such as the outskirts of Gurugram or Noida, it would likely serve as an anchor investment, drawing in complementary developments like hotels, retail, and F&B spaces, and directly boosting property prices. However, since the Jawaharlal Nehru Stadium redevelopment is located in an already prime area surrounded by ultra-premium neighbourhoods, its impact will be different.

According to Rohit Chopra of Southdelhiprime.com, the capital’s premium neighbourhoods have long craved high-quality sports and recreational facilities. “Our city lacks such sports infrastructure, but it’s increasingly necessary,” he said, noting that the new generation of buyers, largely Gen Z , who live in redeveloped flats in Jor Bagh, Defence Colony and Jangpura, localities in the vicinity of JLB, may be drawn to wellness and sports amenities.

“A modern apartment in Jor Bagh today sells for around ₹25 crore for 2,000 sq ft, while flats in Defence Colony range between ₹13 crore and ₹14 crore. In Golf Links, prices start at ₹100 crore,” he said.

Rentals are also likely to rise as foreign tenants may prefer neighbourhoods offering easy access to sports facilities.

Citing the example of Geetanjali and Navjeevan Vihar near Saket, both close to Select Citywalk and the Qutub Golf Course, he noted that property values in these areas have surged due to proximity to such lifestyle infrastructure.

“A 2,000 sq ft flat today rents at ₹2.5 lakh in these areas and apartments that were priced around ₹6.5 crore three years ago, now commands prices of about ₹10 crore, all thanks to the Golf Course in the vicinity,” he said.

Areas like Gulmohar Park and Neeti Bagh, given their proximity to Siri Fort, also command high valuations.

Localities such as Defence Colony, Jangpura, and Jor Bagh, could witness similar trends. “While Golf Links may not see much change in valuation as it is an ultra premium locality commanding prices of ₹100 crore plus, other neighbourhoods such as Jor Bagh, Defence Colony and Jangpura are likely to benefit. Rentals in Jor Bagh, for instance, could rise by 15–20% from the current ₹4–5 lakh per month once the sports facilities are ready,” he said.

While some residents may express concerns about increased traffic, he said, the overall impact on property valuations and rental demand is expected to be strongly positive, largely driven by limited supply and heightened demand.

Mohit Goel, Managing Director of Omaxe Ltd, told HT Real Estate that sports infrastructure projects can be effectively developed through a public-private partnership (PPP) model. Under this arrangement, a private developer could build the stadium and hand it over to the relevant authority in exchange for a nearby parcel of land, typically 5 to 10 acres, for residential or commercial development, thereby helping to recover project and construction costs.

In the case of the ongoing Dwarka project by the company, compensatory FSI was granted for developing a new stadium on land earmarked for sports infrastructure under the city’s master plan.