Maharashtra is working on a legal framework to tokenise land and other immovable property using blockchain technology, Chief Minister Devendra Fadnavis says. He adds that the state is aiming to bring the proposal forward as a bill, with Maharashtra set to be the first state to introduce such a law.
According to the reports, the bill is being designed around a proposed architecture for the Maharashtra Digitisation and Exchange of Land Token Asset (DELTA). The initiative focuses on tokenising real-world assets related to land and immovable property, with the stated goals of improving liquidity and transparency in the real-estate sector.
While details of the bill and timeline are not provided in the excerpts, the outlets frame the move as a regulatory effort at the state level. NDTV highlights that the plan is intended to support liquidity and transparency rather than promote speculation, reflecting how the state positions the tokenisation system in the market.
