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Currently as of now in South Delhi Ground + 3 Floors are allowed to be constructed.
Current Allowed configuration for residential buildings in South Delhi and entire Delhi is as follows:
Basement + Stilt Parking + Ground Floor + First Floor + Second Floor + Top Floor + Terrace.
Number of Dwelling Units Allowed in a residential plot South Delhi: 4 Units
Its a rumor circulating for so many years that another floor ie. fifth floor will be going to be passed in South Delhi, But you cannot invest in a luxury property in South Delhi based on just speculations. As the biggest hurdle in allowing another floor is matching up to the available parking spaces and other resources such as water, electricity, sewer disposal, etc.