Maharashtra Prepares India's First Blockchain Law for Tokenising Land Assets
Maharashtra Chief Minister Devendra Fadnavis announced that his state is preparing India's first blockchain law, known as the DELTA Act, to tokenise land and other immovable assets. The proposed law aims to unlock latent value locked in land and real estate, which is estimated to be around ₹50 lakh crore. The DELTA Act will create a legal framework for blockchain-based tokenization of land and other immovable assets.
The draft of the DELTA Act has been prepared by the state government and a review committee has been formed to examine it. The Chief Minister said that operationalizing the Act would require coordination among the Government of India, market institutions, and the Maharashtra government. He also stated that tokenization is not about speculation but about unlocking productive capital, improving liquidity, and converting dormant property value into economic use.
Fadnavis pegged the latent value locked in land and real estate in the state at 'as large as 50 lakh crore rupees'. The DELTA Act will map tokens to existing property rights, requiring coordination with national securities and registration statutes. The Chief Minister said that once the law is enacted, ordinary citizens should be able to realize value from land and other assets and create liquidity from them.