Maharashtra is moving towards becoming India’s first “tokenised state”, with the government working on a legal and technological framework to make land and property records easier to access, verify and potentially unlock for liquidity.
Chief Minister Devendra Fadnavis announced the initiative while speaking to reporters on the sidelines of the Global Fintech Fest in Mumbai. He said the proposed framework would help take Maharashtra’s digital infrastructure and fintech ecosystem to the next level.
The state has proposed the Maharashtra Digitisation and Exchange of Land Token Asset Act, known as the DELTA Act, which is intended to establish a legal framework for using blockchain technology to tokenise land and other immovable assets.
DELTA Act Under Review
Fadnavis said Maharashtra had made substantial progress towards its goal over the past year, but the proposed legislation is currently being reviewed.
“We have prepared the DELTA Act. A committee has now been formed to undertake a complete review of the Act,” he said.
The proposed legislation is expected to create a mechanism for representing land and property assets digitally through blockchain-based tokens. The government believes such a system could improve access to land records, simplify assessment of property assets and potentially create new ways for owners to unlock financial value from their holdings.
Fadnavis said the framework, once implemented, could allow ordinary citizens to realise the value of their land and other assets and generate liquidity against them.
Mumbai’s Role in Maharashtra’s Digital Push
Fadnavis also highlighted Mumbai’s position as a major global financial and fintech centre, pointing to the rapid expansion of digital financial services and electronic payments across India.
“Financial institutions and lending institutions have become accessible to the common man. People now have access to all kinds of financial services,” he said.
He referred to the wider adoption of digital payment methods and financial technologies as evidence of India’s expanding digital ecosystem.
The chief minister said Maharashtra’s asset-tokenisation initiative would build upon this transformation by bringing land and property transactions further into the digital economy.
“We are trying to take Maharashtra to the next level through this initiative,” the chief minister said.
The proposed DELTA Act remains under examination by the review committee. Its final provisions, implementation mechanism and regulatory framework will determine how blockchain-based land tokenisation could work in practice.
If enacted, the framework could mark a significant shift in the way land records and property assets are represented, accessed and potentially monetised in Maharashtra, while positioning the state at the forefront of India’s emerging digital asset and fintech landscape.
Source: Mid-day
