The deceased were identified as Mohammed Noor (6) and Adil (7). The incident took place in Prem Nagar area of Outer Delhi.
"Today when the two kids were playing at the site, one of the walls collapsed over them. They were rushed to Sanjay Gandhi Memorial Hospital where the doctors declared them brought dead," the official said.
Meanwhile, locals staged a protest outside the hospital demanding action against the owner of the property.
A case of death due to negligence has been registered by police.