The issue here is which court or courts the Delhi court can send the case to for execution, given where X lives and where X's property is. Let's look at the options.
Because X's residence and property span two different states, and the principle allows transfer to any court with jurisdiction over the person or the property, the Delhi court is not confined to a single destination.
So the correct answer is New Delhi court can transfer the proceedings to either Maharashtra or Gujarat.
This question separates two distinct powers, the power to decide and the power to execute, and then counts which courts qualify for the second one. Each wrong option confuses or undercounts these.
Because X's residence and property are spread across two states, and the principle allows transfer to any court holding jurisdiction over the person or the property, restricting the choice to one state, or letting Delhi execute directly, both understate what the principle permits.
Therefore, the correct answer is New Delhi court can transfer the proceedings to either Maharashtra or Gujarat.