Maharashtra is preparing to introduce a legal framework that could make it the first state in India to allow the tokenisation of land and other immovable assets. Chief Minister Devendra Fadnavis announced the initiative on Wednesday at the Global Fintech Fest 2026 in Mumbai. The proposed legislation, called the Maharashtra Digitisation and Exchange of Land Token Asset Act, or DELTA Act, aims to bring blockchain technology for the management and exchange of land assets.

Fadnavis said the state has prepared the architecture of the proposed DELTA Act and formed a committee to conduct a detailed review of the legislation. The committee will examine the framework before the government moves ahead with the law. “We have prepared the DELTA Act,” Fadnavis said, according to PTI.

The proposed law would establish a legal structure for the blockchain-based tokenisation of land and other immovable properties. Tokenisation refers to representing the value or ownership rights linked to an asset through digital tokens on a blockchain network. The state expects the system to make land records easier to access, verify and manage. It could also help unlock the financial value of land and other immovable assets.

The initiative could allow ordinary citizens to access liquidity from their land and other assets. Fadnavis said the framework would help people realise the value of their property. The proposal comes as India continues to move towards wider use of digital financial systems and technology-driven transactions.

Fadnavis connected the initiative with the rapid growth of digital payments in the country. He said new technologies and virtual payment systems have changed the way people conduct financial transactions. Maharashtra now wants to use emerging technologies to take its financial ecosystem further. “We are trying to take Maharashtra to the next level through this initiative,” the chief minister said.

The state plans to bring together experts from several institutions and sectors while developing the framework. These include the Securities and Exchange Board of India, the National Stock Exchange and the BSE. Industry experts, technology professionals, legal experts and academics will also contribute to the process. The government wants the proposed system to balance technological innovation with strong legal and regulatory safeguards.

Fadnavis stressed that a project of this scale cannot depend on technology alone. It will also need clear laws, consumer safeguards and confidence among regulators and users. “Innovation at this scale must be accompanied by legal certainty, consumer protection and regulatory trust,” he said. He also pointed to the need for cooperation between the central government, institutions and the Maharashtra government. According to Fadnavis, operationalising the Act “requires a significant collaboration between the Government of India, institutions and the Government of Maharashtra”, as reported by CNBC TV18.

If the legislation becomes law, Maharashtra would become the first state in India to create a dedicated legal framework for land tokenisation. The move is part of the state government's wider effort to position Maharashtra as a major testing ground for emerging financial technologies. The plan covers areas such as artificial intelligence, blockchain and asset tokenisation.

Fadnavis also used the Global Fintech Fest to present Mumbai as a growing global centre for financial technology. He said the future of finance is expanding beyond established financial centres such as New York, London and Singapore. “Mumbai should become the city where the future of global finance is designed,” Fadnavis said. “The next great global fintech company can be born in Mumbai, the next breakthrough in responsible financial AI can be built here.”

The chief minister also highlighted Maharashtra's efforts to strengthen Mumbai's position as a corporate and financial hub. During the event, he handed over lease deeds for plots in Mumbai's Bandra-Kurla Complex to the Securities and Exchange Board of India, the National Stock Exchange and the Enforcement Directorate. The plots will support the expansion of these institutions in the city's major business district.

The DELTA Act proposal marks another step in Maharashtra's push to combine land administration with emerging financial technology. The state now faces the task of reviewing the proposed legislation, establishing safeguards and coordinating with national institutions before the framework can become operational.