I was just going thru this company and its land bank…found this in their Feb 2020 IM. As per the same both the delhi land can be used only for public and semi public use
then i tried to check delhi master plan for the definition of public and semi public usage
from Delhi master plan
PUBLIC AND SEMI PUBLIC FACILITES
PS1 Hospital, education and Research University/University centre, College, Social - Cultural,
Socio Cultural Complex/Centre, Police/Police headquarters/ Police Lines, Fire stations/Disaster Management Centres, Religious, Burial Ground/Cremation.
PS2 Transmission Site/Centre
PS3 Sports Facilities/Complex/Stadium/Sports Centre.
So it means they cant built office or residential on these lands…Unless there is a change in land use (which in my opinion will require amendment in delhi master plan and quite complicated) considering the size of lands it will take them decades if not more to sell unlike resi / office which can be sold much more easily. Further data center doesnt makes much sense to built in heart of city as rent becomes unaffordable and unlike noida (UP) Delhi doesnt have major incentives for data center.
~~ Feel free to correct if anything wrong with my analysis.