The issue was discussed at the Cabinet meeting on April 25.
"The Cabinet in its meeting has deferred a decision on the matter. The issue will come up again at the Cabinet meeting," a top government official told PTI.
The exhibition-cum-commercial centre would include an air cargo complex spread over 154 hectares near New Delhi's IGI Airport in Dwarka Sector 25 and 26.
It would also have hotels, a convention centre that can seat 6,000 people. The approval was also sought for mixed use of the land.
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It has been conceptualised by the Delhi Mumbai Industrial Corridor Development Corporation (DMICDC).
The project is expected to create lots of employment opportunities for people in the country and could also attract foreign investment.
According to sources, there were some issues with the Delhi Development Authority (DDA) over transfer of the land for the project.