Maharashtra Chief Minister Devendra Fadnavis announced the introduction of the Maharashtra Digitisation and Exchange of Land Token Asset (Delta) legislation on Wednesday. This initiative is touted as India’s first legal framework aimed at the blockchain-based tokenisation of land and other immovable assets. The announcement took place during the Global Fintech Fest 2026 in Mumbai.
The proposed framework aims to provide legal certainty, consumer protection and regulatory oversight for the tokenisation of land assets. The framework is being developed with inputs from the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), as well as experts from industry, technology, law and academia. Land tokenisation refers to converting ownership or economic rights in a property into digital tokens recorded using blockchain technology.
For instance, a property worth ₹ 1 crore could, depending on the legal structure, be represented by 1,000 digital tokens, with each token representing a portion of the property’s value or associated rights.
“We are now bringing Maharashtra Digitisation and Exchange of Land Token Asset (Delta) Act, a legal framework for the blockchain-based tokenisation of land and other immovable assets,” Fadnavis said, while adding that the land assets potentially covered under the framework are estimated to be worth around ₹ 50 lakh crore. He said the framework was being formulated carefully by bringing together expertise from regulators, stock exchanges, industry, technology, legal experts and academia. “Innovation at this scale must be accompanied by legal consumer protection and regulator trust,” he said, adding that operationalising the Delta Act would require significant collaboration between the Union and state governments. “Soon Maharashtra will become the first state to create such a legislative framework,” Fadnavis announced. Explaining the significance of the proposed framework, Fadnavis said land has traditionally represented substantial wealth in India but often remains illiquid.
