Mumbai: Maharashtra Chief Minister Devendra Fadnavis has announced plans to introduce a legal framework for the blockchain-based tokenisation of land and other immovable assets, positioning the state to become the first in India to establish legislation for the emerging model.
The proposed Maharashtra Digitisation and Exchange of Land Token Asset (Delta) legislation was announced by Fadnavis on Wednesday at the ongoing Global Fintech Fest 2026 in Mumbai, according to a report by Hindustan Times.
The framework is intended to bring legal clarity, consumer safeguards and regulatory supervision to the tokenisation of real estate assets. Its development involves consultations with the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), along with specialists from the technology, legal, industry and academic sectors.
Fadnavis said the land assets that could potentially fall within the proposed framework are estimated to have a value of around ₹50 lakh crore.
“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.
He stressed that an initiative of this scale would need to balance technological innovation with consumer protection and confidence among regulators. According to the chief minister, putting the proposed Delta Act into operation would also require close coordination between the state and Union governments.
How land tokenisation works
Land tokenisation involves representing ownership interests or economic rights linked to a property through digital tokens recorded on a blockchain.
For example, a property valued at ₹1 crore could, depending on the legal arrangement, be represented by 1,000 digital tokens. Each token could correspond to a fraction of the property’s value or to specific rights associated with the asset.
Such a structure could potentially enable investors to obtain exposure to real estate without needing to purchase an entire property.
Potential to unlock property wealth
The proposed framework is aimed at creating a regulated structure for this model while addressing questions around legal ownership, investor protection and regulatory oversight.
Fadnavis said Maharashtra would soon become the first state to establish a legislative framework specifically for land and immovable-asset tokenisation.
“Innovation at this scale must be accompanied by legal consumer protection and regulator trust,” he said.
The proposal comes as blockchain technology continues to be explored for applications beyond cryptocurrencies, including the digitisation and fractional representation of real-world assets.
