Redevelopment of JLN Stadium could strengthen the appeal of Delhi’s ultra-premium property market, not bring major price swings

Some experts say Jor Bagh, Defense Colony and Jangpura, which consist of largely redeveloped apartments, could attract high-value tenants thanks to the advanced wellness and sports facilities provided by the project, potentially leading to an increase in rental values ​​in the area.

Doha Sports City is spread over 617 acres. It has facilities for football, aquatics and 13 different indoor sports, apart from an academy. It also has a specialized orthopedic and sports medicine hospital. Australia’s multi-purpose facilities include Melbourne’s Docklands Stadium which can host cricket, Australian rules football, rugby, cricket and football.

“Out of more than 100 acres, only 28 percent of the land is currently used in infrastructure. If you look at modern sports venues around the world, stadiums are all multi-purpose competition and training venues. Technology has changed so much that a stadium can now accommodate multiple disciplines. new sports city There will be a multi-purpose sports venue, which will have sports clubs, residential facilities, recreational avenues etc,” HT quoted an official as saying.

“With India advocating hosting the 2036 Olympics and 2030 Commonwealth Games in Ahmedabad, we want to create the best infrastructure in the Games which can be fully utilised,” the official said.

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He pointed out that property prices in such premium neighborhoods generally see an increase only when supported by new infrastructure developments such as flyovers, decongestion measures or better connectivity.

They also suggested that for the long-term sustainability of the project, parts of the new sports infrastructure could be used for income generation, for example, by hosting private events or allowing limited commercial use. This will help maintain the facilities at world-class standards and ensure the financial viability of the project over time.

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

According to Rohit Chopra of SouthDelhiPrime.com, the capital’s premium neighborhoods have long been yearning for high-quality sports and recreational facilities. “Our city lacks such sports infrastructure but it is increasingly required,” he said, adding that the new generation of buyers, mainly Gen Z, who live in redeveloped flats in JLB neighborhoods like Jor Bagh, Defense Colony and Jangpura, may be attracted towards wellness and sports facilities.

“A modern apartment in Jor Bagh sells cheap today 25 crore for 2,000 sq ft, while flats in Defense Colony range between 13 crore more 14 crores. At Golf Links, prices start at 100 crore,” he said.

Rents are also likely to increase as foreign tenants may prefer neighborhoods that offer easy access to sports facilities.

Citing the example of Gitanjali and Navjeevan Vihar near Saket, both of which are close to Select Citywalk and Qutub Golf Course, he said property values ​​in these areas have increased due to proximity to such lifestyle infrastructure.

“A 2,000 square foot flat is on rent today The price of these areas and apartments was around Rs 2.5 lakh. Three years ago it was Rs 6.5 crore, now it is worth around Rs 6.5 crore 10 crore, thanks to the nearby golf courses,” he said.

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

Similar trends can be seen in areas like Defense Colony, Jangpura and Jor Bagh. “However, we may not see much change in the valuations of Golf Links as it is an ultra premium area where prices are very low More than Rs 100 crore, other areas like Jor Bagh, Defense Colony and Jangpura are likely to benefit. For example, rents in Jor Bagh may increase by 15-20% from current Once the sports facilities are ready, Rs 4-5 lakh will be available per month,” 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, driven primarily by limited supply and increased demand.

Mohit Goyal, managing director of Omaxe Ltd, told HT Real Estate that sports infrastructure projects can be effectively developed through the public-private partnership (PPP) model. Under this arrangement, a private developer can build a stadium and hand it over to the concerned authority in exchange for adjacent land for residential or commercial development, usually 5 to 10 acres, which will help recover the project and construction costs.

In case of the ongoing Dwarka project by the company, compensatory FSI was provided for the development new stadium on land earmarked for sports infrastructure under the city master plan.