India's Maharashtra state pushes first bill on tokenized real estate trading

India's Maharashtra state is pushing to enact the Digitalization and Exchange of Land Token Assets Act, or DELTA Act, a bill that would allow real estate to be traded as blockchain-based tokens. The legislative push would be the first of its kind by an Indian state government. Maharashtra Chief Minister Devendra Fadnavis said on X he chaired a meeting on the draft bill and instructed relevant authorities to prepare legislation so value embedded in real estate can be used for the public interest and as a new source of tax revenue. The plan links token prices to underlying real estate values and processes related transactions and operational procedures through a blockchain-based digital system. The state government plans to form an expert committee including officials from the Securities and Exchange Board of India, or SEBI, and local stock exchanges, and to review overseas legal and regulatory cases.