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Maharashtra is working to establish India’s first state-level legal framework for blockchain-based tokenisation of land and other immovable assets, chief minister Devendra Fadnavis said. Speaking at the Global Fintech Fest (GFF) 2026 in Mumbai, Fadnavis said the state is developing the architecture for the proposed Maharashtra Digitisation and Exchange of Land Token Asset (DELTA) Act. This comes after Fadnavis directed state officials in July to draft the legislation and constitute an expert committee comprising representatives from SEBI, BSE, and NSE, along with academics and experts from the technology and legal sectors. At the GFF, Fadnavis said the government has moved beyond discussing the idea and is bringing together the expertise required to develop the framework. He estimated that unlocking the value embedded in land and real estate could represent an opportunity of around ₹50 Lakh Cr. Tokenisation involves digitally representing rights or value associated with a physical asset on a blockchain. In the case of property, the proposed framework is intended to make it easier for owners to access capital against their assets and facilitate more transparent transactions. “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. He added that the state’s proposal is not intended to encourage speculation but to improve liquidity and transparency and convert dormant wealth into economic opportunities. Guardrails For Emerging Tech Besides asset tokenisation, Fadnavis spoke about the potential role of agentic AI and quantum technology in financial services. He said agentic AI can give individuals greater control over financial services, while quantum technology can strengthen the security infrastructure underpinning digital finance. However, the chief minister cautioned that fintech products built using emerging technologies would require safeguards around accountability, consent, security, and human oversight. “UPI democratised transactions. The next generation of fintech must democratise credit, intelligence, ownership, and opportunity. Agentic AI must give people greater agency, tokenisation must unlock productive capital, quantum must strengthen trust, and technology must ultimately serve one purpose: to expand human opportunity,” Fadnavis said. His remarks come a day after Prime Minister Narendra Modi called on fintech companies to strengthen cybersecurity and consumer protection as technologies such as agentic AI, tokenisation, and quantum computing reshape financial services. Addressing the inauguration of GFF 2026, Modi outlined four priorities for the sector — stronger cybersecurity, ethical data protection, better consumer protection, and closer collaboration between the industry and regulators. He also urged fintech companies to move beyond payments and develop products across credit, insurance, pensions, fraud prevention, and automated decision-making.
document fetched 2026-09-10 02:58 · canonical https://inc42.com/buzz/maharashtra-eyes-first-state-level-land-tokenisation-framework-cm-fadnavis