According to a PTI report, Maharashtra Chief Minister Devendra Fadnavis has directed officials to draft legislation for blockchain-based tokenisation of immovable properties as the state works towards its target of becoming a $1 trillion economy by 2030.
The proposed framework, called DELTA (Maharashtra Digitisation and Exchange of Land Token Assets), is expected to provide a legal structure for converting the value of land and other real estate assets into digital tokens.
What is property tokenisation?
Property tokenisation refers to the process of representing ownership or economic value linked to a physical asset through digital tokens recorded on a blockchain network.
In simple terms, a property’s value can be divided into digital units, with each token representing a defined interest in the underlying asset. Such a system could potentially make real estate assets easier to transfer, access and monetise, depending on the regulatory framework.
According to PTI, Fadnavis said the current process of property transactions and using assets as collateral for loans can be time-consuming. He added that digitisation through tokenisation could help property owners unlock the “latent value” of their assets.
Expert panel to frame legal framework
The Maharashtra government plans to set up an expert committee comprising representatives from market regulators, stock exchanges and industry specialists to prepare a comprehensive framework for asset tokenisation.
The committee is expected to include representatives from the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE), National Stock Exchange (NSE), along with legal experts, researchers and startups.
The state government will also study global regulations and platforms related to asset tokenisation before finalising the proposed law.
Why legal safeguards matter
While blockchain technology can improve transparency and record-keeping, property ownership involves complex issues such as registration, transfer rights and regulatory approvals.
PTI quoted Fadnavis as saying that the proposed system should ensure a fully digital and legally protected process, with clear ownership rights for tokenised assets.
The Chief Minister has directed the Urban Development Department and Law and Judiciary Department to speed up work on the proposed legislation after examining relevant central government regulations, according to the PTI report.
If introduced, Maharashtra would become the first state in India to propose a dedicated law for blockchain-based tokenisation of immovable assets, PTI reported.
First Published: Jul 21, 2026 11:38 AM IST
