Maharashtra, India, plans to roll out the DELTA Act to explore legislation on tokenizing real estate via blockchain

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Deep Tide TechFlow news: On July 21, Maharashtra Chief Minister Devendra Fadnavis posted that the state is drafting the DELTA Act (Maharashtra Land Tokenization and Digitalization of Assets and Exchange Act). Fadnavis chaired the relevant meeting, instructing officials to study global laws and regulations as well as best practices, and to set up an expert committee consisting of representatives from SEBI, BSE, NSE and professionals to develop a complete legislative framework.

Under the proposal, real estate will be tokenized through blockchain technology, with the entire transaction carried out on-chain. The move aims to unlock the potential value of real estate, create new revenue streams, and help Maharashtra achieve its goal of reaching GDP of $1 trillion by 2030. If the legislation is adopted, Maharashtra will become the first state in India to introduce such regulations.

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