Maharashtra To Become First State In India To Implement DELTA Act For Blockchain-Based Land Tokenisation
Maharashtra To Become First State In India To Implement DELTA Act For Blockchain-Based Land Tokenisation
Pune/Mumbai, July 27: The Maharashtra government is preparing to introduce the Maharashtra Digitisation and Exchange of Land Token Assets (DELTA) Act, a first-of-its-kind legislation in India aimed at enabling blockchain-based tokenisation of real estate assets. The proposed law is expected to unlock the economic value of land and property while supporting the state’s goal of becoming a $1 trillion economy by 2030.
Chief Minister Devendra Fadnavis has directed officials to draft a comprehensive legal framework for the proposed DELTA Act. The proposal was discussed during a recent presentation on the draft legislation, where the Chief Minister instructed the formation of an expert committee comprising representatives from the Securities and Exchange Board of India (SEBI), BSE, NSE, industry experts, and specialists in blockchain technology.
The proposed system will use blockchain technology to digitise land and real estate assets, allowing properties to be represented as digital tokens based on their market value. These tokens could then be traded through a secure digital platform, with the legislation providing the necessary legal framework and regulatory safeguards.
Fadnavis said the committee should examine global laws, regulations, and best practices related to property tokenisation and incorporate inputs from academic institutions, startups, legal experts, and industry stakeholders. He also stressed that the legislation must clearly establish ownership rights for properties involved in blockchain-based transactions.
What Is Property Tokenisation?
Property tokenisation is the process of converting ownership of a physical asset—such as land, residential or commercial property, gold, or company shares—into digital tokens recorded on a blockchain. These tokens represent fractional ownership or value in the underlying asset, making transactions more transparent, secure, and efficient.
Benefits for Property Owners
The state government believes the proposed law could simplify property transactions, which are currently time-consuming due to documentation, registration, and loan-related processes. By digitising ownership and recognising the latent value of real estate assets, tokenisation could improve liquidity, enhance access to financing, and create new investment opportunities for property owners.
The Chief Minister has also directed the Urban Development Department and the Law and Judiciary Department to expedite work on the legislation while ensuring it aligns with applicable Central government regulations.
If enacted, Maharashtra would become the first state in India to introduce a dedicated legal framework for blockchain-based tokenisation of land and real estate assets.
