Maharashtra advances draft law for blockchain-based land tokenization

Maharashtra is moving ahead with draft legislation for tokenized real estate, according to a post by Chief Minister Devendra Fadnavis cited by ChainCatcher. The proposal, titled the Maharashtra Digitization and Exchange of Land Token Assets Act, or DELTA Act, is now in the drafting stage. Fadnavis said he chaired a meeting on the matter and directed officials to study global laws, regulations, and established practices before shaping the state’s approach. He also called for the formation of an expert committee that will include representatives from the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE), and other professionals. Under the proposal, real estate would be tokenized using blockchain technology, with transactions handled fully on-chain. Fadnavis said the initiative is intended to unlock the latent value of real estate, open new revenue channels, and support Maharashtra’s goal of reaching a $1 trillion GDP by 2030. If enacted, Maharashtra would become the first Indian state to introduce this type of regulation.