Tokenisation of land assets to make Maharashtra a ‘tokenized state’

Maharashtra’s ambition to become the country’s first tokenized state was first voiced at the Global Fintech Fest 2025. This year, Chief Minister Devendra Fadnavis announced that the draft of the Maharashtra Digitisation and Exchange of Land Token Asset Act – popularly called the Delta Act – is now underway.

The legislation will lay down a clear legal framework for issuing blockchain‑based tokens that represent ownership of land and real‑estate parcels. Once tokenised, these assets can be bought, sold or pledged instantly, enhancing liquidity for farmers, developers and small business owners.

Fadnavis explained that tokenisation unlocks capital that is otherwise locked in illiquid property, allowing it to be redeployed into productive sectors such as manufacturing, renewable energy and technology startups. The move is expected to increase transparency, reduce transaction costs and attract foreign investment.

Key stakeholders – including the Securities and Exchange Board of India, the Bombay Stock Exchange, the National Stock Exchange, technology partners and academic institutions – are participating in the drafting process to ensure robust governance and compliance.

The chief minister linked the initiative to broader goals of financial inclusion, noting that a token‑based land registry can empower marginalized communities with provable ownership records, easier access to credit and a pathway to participate in the digital economy.