The Indian state of Maharashtra plans to introduce the DELTA Act to explore legislation on real estate blockchain tokenization.

TechFlow reports that on July 21, according to a post by Maharashtra Chief Minister Devendra Fadnavis, the state is advancing the drafting of the Maharashtra Land Tokenized Asset Digitization and Exchange Act (DELTA Act). Fadnavis chaired related meetings, directing officials to study global laws, regulations, and best practices, and announced the establishment of an expert committee composed of representatives from SEBI, BSE, and NSE, alongside industry professionals, to develop a comprehensive legislative framework.

Under the proposal, real estate will be tokenized using blockchain technology, with all transactions conducted entirely on-chain. This initiative aims to unlock the potential value of real estate, generate new revenue streams, and support Maharashtra in achieving its $1 trillion GDP target by 2030. Should the legislation be enacted, Maharashtra would become the first Indian state to introduce such regulatory measures.