India’s Maharashtra state is preparing a new legal framework to support blockchain-based tokenisation of land and other immovable assets, with Chief Minister Devendra Fadnavis unveiling plans for the Maharashtra Digitisation and Exchange of Land Token Asset (DELTA) Act. The announcement was made at the Global Fintech Fest 2026 in Mumbai.
“We are now bringing the Maharashtra Digitisation and Exchange of Land Token Asset (Delta) Act, a legal framework for the blockchain-based tokenisation of land and other immovable assets. Soon Maharashtra will become the first state to create such a legislative framework,” Fadnavis announced.
Following his announcement at Global Fintech Fest, reports said the government is consulting stakeholders including the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE), industry representatives, technology experts, legal professionals and academic institutions.
Land tokenisation involves representing ownership interests or defined economic rights associated with physical property as digital tokens recorded on a blockchain. In traditional property transactions, ownership is established through legal documents, registration systems and government records. Under a tokenised system, blockchain technology could be used to record the issuance, transfer, and transaction history of tokens associated with a property or legal structure.
Blockchain is regarded as being well suited for tokenisation since it provides a way to create a shared and tamper-proof record of transactions. Instead of depending only on the centralised database, a blockchain system can manage a ledger where the authorised users can confirm the transaction history of the asset.
However, blockchain does not solve every issue related to land ownership records. If inaccurate ownership data is entered into the system, the technology cannot detect the error. Any tokenisation framework would still require robust systems for title verification, owner identification, dispute resolution, inheritance claims and integration with government databases.
Strengthening Mumbai’s Position as India’s Premier Financial Hub!
The handover of plots from MMRDA to SEBI, NSE and the Directorate of Enforcement in BKC will support the expansion of these key financial institutions and further strengthen Mumbai’s position as a leading global… https://t.co/ajbS12h1Xp
— Devendra Fadnavis (@Dev_Fadnavis) September 9, 2026
A tokenised property system would require several layers. The first is title verification to confirm that a property exists, that ownership is established, and that there are no undisclosed legal issues affecting tokenisation. Developing a legally recognised structure that connects the property to digital tokens is the second. Blockchain infrastructure for tracking token issuance and transfers comes in third. Regulated platforms or market infrastructure that enable transactions while adhering to financial, tax, and consumer protection regulations make up the last tier.
The concept may serve as a digital conduit between financial markets and land records. Certain transaction procedures that presently rely on paperwork and tangible documents may be automated. A court’s decision to freeze property or mandate a transfer would need to be reflected in the blockchain record. In the same vein, the associated digital tokens could not continue to trade as if nothing had occurred if ownership rights were withdrawn. Technical and legal integration would be necessary for the system.
Fadnavis said the land assets covered under the proposed framework are worth an estimated ₹50 lakh crore (approx. $525 billion) but offered no further details. The initiative aims to unlock capital from illiquid assets by enabling tokenised ownership, offering a faster and more flexible alternative to traditional financing. It also seeks to improve transparency by using blockchain to create verifiable transaction records and reduce reliance on intermediaries.
Fadnavis said, “For generations, land has represented wealth in India, but very often it is wealth without liquidity. A family may own a significant asset but struggle to access capital against it efficiently. Similarly, entrepreneurs may hold valuable assets but be unable to quickly unlock their economic potential. Tokenisation could help address this challenge by improving transparency and liquidity while enabling owners to unlock the economic value of their assets.”
He further added, “Let me be clear: for us, tokenisation is not about speculation but about unlocking productive capital. It is about transforming underutilised assets into economic opportunities.”
He added that implementing the proposed DELTA Act would require close coordination and regulatory cooperation between India’s federal and state governments.
The land tokenisation proposal is part of a wider technology agenda promoted by Maharashtra. Fadnavis has positioned the state as a testing ground for technologies including artificial intelligence, data centres, global capability centres, startups, universities and advanced financial technology. At Global Fintech Fest, he said that Maharashtra aims to provide an environment in which technology and financial-sector projects can be developed and tested.
Maharashtra CM stated, “I want technology companies and financial institutions to view Maharashtra not merely as a market but as a laboratory for innovation.”
He called on businesses to submit their most ambitious projects across sectors including agriculture, small and medium-sized enterprises (SMEs), urban governance, mobility, healthcare, financial inclusion, fraud prevention and public finance.
Fadnavis concluded, “Maharashtra will remain at the forefront of this transformation and develop as the country’s largest real-world test-bed for next-generation fintech solutions.”
The proposal also fits within a broader national discussion on the use of emerging technologies. At Global Fintech Fest 2026, Indian Prime Minister Narendra Modi said technologies such as agentic AI, tokenisation and quantum technology should deliver practical real-world applications rather than remain theoretical concepts.
