- Maharashtra plans to introduce the DELTA Act within four to five months for land digitisation
- The Act aims to create a blockchain-based framework for tokenising land and immovable assets
- Experts from SEBI, NSE, and BSE are involved in developing the legal and regulatory framework
Fadnavis On DELTA Act: The proposed Maharashtra Digitisation and Exchange of Land Token Asset Act (DELTA Act) is expected to be brought in within the next four to five months, as the state works on a blockchain-based framework to digitise and tokenise land and other immovable assets, Maharashtra Chief Minister Devendra Fadnavis told NDTV Profit.
Fadnavis said recommendations for the proposed legislation have already been placed before the executive committee. The state is now working on the architecture of the framework, with the objective of creating a regulated ecosystem where land and other immovable assets can be represented digitally through blockchain-based tokens.
“We are now bringing into place the architecture of Maharashtra Digitisation and Exchange of Land Token Asset Act. That is the DELTA Act,” Fadnavis said.
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The state is bringing together expertise from market institutions and regulators, including SEBI, NSE and BSE, as it works on the proposed legislation.
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Furthermore, he said the framework is being developed carefully and will require major coordination between the Government of India, financial institutions and the Maharashtra government.
Maharashtra To Be First State With Such Framework
Fadnavis said Maharashtra aims to become the first state in India to create such a framework for the digitisation and tokenisation of land and other immovable assets.
The initiative follows the Maharashtra government's earlier decision to develop a legal framework for blockchain-based tokenisation of immovable properties.
Fadnavis had said the framework could unlock the “latent value” embedded in land and real estate assets while making transactions and financing more efficient.
DELTA Act To Focus On Land Monetisation
The proposed legislation is aimed at creating a legal and regulatory architecture under which immovable assets can be digitised and represented through tokens based on the underlying value of the property.
Fadnavis had earlier said that digitisation could potentially make property purchase and sale transactions, as well as the use of property as collateral for bank loans, faster and more efficient. The government also sees tokenisation as a way for property owners to unlock otherwise underutilised value from their assets.
The state has also been asked to examine international laws, regulations and operating frameworks around asset tokenisation before finalising the legislation.
Central-State Coordination Key
Fadnavis said operationalising the DELTA Act would require substantial collaboration between the Centre, financial institutions and the Maharashtra government.
The involvement of SEBI, NSE and BSE is expected to be particularly important as the state works through questions around regulation, digital asset transactions and the interface between property rights and financial markets.
Fadnavis On Agentic AI: ‘Second Transformation'
Beyond land tokenisation, Fadnavis identified agentic artificial intelligence as another major transformation underway in the financial sector.
He said the future of finance would need to combine intelligence, accountability and innovation with consent, speed and security, while ensuring that AI agents operate with appropriate human oversight.
Fadnavis also urged the financial technology ecosystem to view Maharashtra not merely as a market but as a testing ground for new technologies.
“Don't look at Maharashtra only as your market, look at it as your lab,” he said.
The comments come as Maharashtra seeks to position Mumbai as a global fintech and technology hub, with the state increasingly focusing on emerging areas such as AI, blockchain and asset tokenisation.
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