New Delhi Municipal Council (NDMC) Vice Chairman Karan Singh Tanwar had issued a statement that the proposal has been "unanimously" approved in today's meeting which was presided by Chief Minister Arvind Kejriwal.
A council member, who was present at the meeting, had also confirmed the development to PTI.
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"The agenda item on renaming of Teen Murti Chowk and Teen Murti Marg has been deferred," the statement said.
The statement by Tanwar, issued earlier, had claimed, "The Teen Murti Chowk had been renamed as Teen Murti Haifa Chowk and the Teen Murti Marg had been renamed as Teen Murti Haifa Marg, as resolved unanimously by all members."
The idea was proposed ahead of Prime Minister Narendra Modi's visit to Israel likely in July, which will be the first by an Indian Prime Minister, as the two countries celebrate 25 years of diplomatic relations.
The Israeli city, which these places are being considered for renaming after, was liberated from the Ottoman occupation by Indian soldiers during the First World War.
A large number of Indian soldiers of the 15th Imperial Service Cavalry Brigade died during the battle to free the city and nearly 900 are buried in Israel, the official said.
Every year, September 23 is celebrated as 'Haifa Day' in India and Israel as a mark of respect for the soldiers who lost their lives in the battle and to mark the end to 400 years of the Turkish control over the city.
Demands to rename the two places have been made over the past few years by different organisations, including the RSS.
Senior RSS functionary Indresh Kumar had demanded in 2015 that the government acknowledge the role played by the three regiments of the Indian army in the Battle of Haifa in 1918.
According to the Ministry of Culture, a "wrong impression" has been built about the Teen Murti Chowk that it has something to do with Mahatma Gandhi.
"The Teen Murti Chowk was named to mark the role of the three cavalry regiments. But no one knows this today. The moment people think of the Teen Murti, they think of Gandhiji's monkeys. This is a wrong impression that needs to be corrected," the ministry had earlier said.
If approved, this would have been the fifth renaming of a road in less than two years in the national capital, the latest being the Park Street, which was renamed earlier this month after Bangladesh's founder Sheikh Mujibur Rahman, ahead of the country's Prime Minister Sheikh Hasina's visit to India.
In 2015, Aurangzeb Road was renamed as APJ Abdul Kalam Road. Race Course Road, where the prime minister's residence is located, was renamed as Lok Kalyan Marg last year.
Earlier this year, the civic body had renamed Dalhousie Road as Dara Shikoh Road after the elder brother of Mughal emperor Aurangzeb.
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