Maharashtra Chief Minister Devendra Fadnavis has announced plans to introduce the Maharashtra Digitisation and Exchange of Land Token Asset (Delta) Act, a proposed legal framework for blockchain-based tokenisation of land and other immovable assets.
Fadnavis made the announcement at the Global Fintech Fest 2026 in Mumbai, describing the initiative as potentially India’s first legislative framework specifically for land tokenisation. The proposed system aims to bring legal clarity, consumer protection and regulatory oversight to the emerging technology.
Land tokenisation involves converting ownership or economic rights linked to a property into digital tokens recorded on a blockchain. For example, a property valued at ₹1 crore could, depending on the legal structure, be represented through 1,000 digital tokens, with each token representing a portion of the asset’s value or associated rights.
The model could allow investors to gain exposure to real estate without purchasing an entire property. However, the proposed framework would determine how such digital representations can legally operate and how investors and property owners would be protected.
Fadnavis said land represents enormous wealth in India but often remains difficult to convert into usable capital. Families may own valuable properties but struggle to access funds against them, while businesses can similarly hold significant assets that remain financially underutilised.
According to the chief minister, tokenisation could help unlock this “dormant wealth” by improving transparency and liquidity. He stressed that the objective was not to encourage speculation but to make assets more productive and create new economic opportunities.
The Maharashtra government is developing the proposed framework with inputs from several institutions, including the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Experts from the technology, legal, financial, academic and industry sectors are also involved in the process.
Fadnavis said the initiative would require close coordination between the state and Union governments before it could be fully operationalised.
The assets potentially covered by the framework are estimated at around ₹50 lakh crore, highlighting the scale of the land and property market that could eventually be affected.
If implemented, the Delta framework could mark a significant step towards integrating blockchain technology with India’s traditional property market. The government, however, faces the challenge of ensuring that innovation is balanced with strong safeguards against fraud, disputes and speculative misuse.
Fadnavis said Maharashtra aims to become the first state in India to establish such a legislative framework.
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