Maharashtra Looks to Establish First State-Level Land Tokenisation Framework, Says CM Fadnavis

Maharashtra Chief Minister Devendra Fadnavis announced that the state is taking steps to create India's first legal framework for tokenising land and immovable property through blockchain technology. Speaking at the Global Fintech Fest (GFF) 2026 in Mumbai, Fadnavis said Maharashtra is designing the architecture for the proposed Maharashtra Digitisation and Exchange of Land Token Asset (DELTA) Bill. This followed an order issued by Fadnavis in July to draft the bill and to constitute a committee of experts, including representation from SEBI, BSE and NSE, alongside tech and legal experts.

Maharashtra Plans Expert Committee to Shape DELTA Bill

As Fadnavis said at the GFF, the government is no longer merely talking about the idea but assembling the knowledge needed to build the framework. The CM estimated that the value of land and real estate can mean an opportunity of about Rs. 50,00,000 Crore. The process of tokenisation is based on representing rights or value attached to the real-world asset using blockchain technology. Regarding property, the suggested model will help the asset owner to access the financial means based on their property more easily.

“For generations, land has represented wealth in India, but very often it is wealth without liquidity. A family may own an asset of significant value and yet struggle to access capital against it efficiently. An entrepreneur may have an asset but may not be able to unlock its economic potential quickly,” Fadnavis said. The minister added that the initiative by the government isn't aimed at speculation but rather at improving liquidity and transparency, turning dormant wealth into economic potential.

Beyond tokenising assets, he highlighted the potential use of agentic AI and quantum technology in banking services. Agentic AI could enable people to have more control over financial services, whereas quantum technology could help make the security framework behind the digital financial system more secure. But then, Fadnavis warned that fintech products developed using emerging technologies would need security and accountability mechanisms.

Last year, the Madras High Court also officially recognised cryptocurrency as property under Indian law. Judge N. Anand Venkatesh's decision ruled that digital assets like Bitcoin, Ethereum, and XRP can be owned, transferred, and held in trust, which gave India's growing cryptocurrency ecosystem much-needed legal clarity. The judgment marks the first time an Indian court has directly classified cryptocurrency as a form of property, giving investors and businesses a firmer legal footing for transactions and dispute resolution.