Maharashtra CM Fadnavis Unveils Bill to Legalise Land Tokenisation

Chief Minister Devendra Fadnavis of Maharashtra announced a draft legislation that would establish a statutory framework for tokenising land parcels. The proposal is intended to recognise tokenised land as a distinct asset class and to set out procedures for registration and transfer on blockchain platforms.
The bill seeks to deliver legal certainty by defining the rights and obligations of token holders, while also mandating a regulatory oversight mechanism to monitor transactions. Consumer protection provisions include mandatory disclosure standards, grievance redressal pathways and safeguards against fraud.
State officials indicated that the framework is designed to improve liquidity of land holdings, attract investment and reduce transaction costs associated with traditional land deals. The legislation is expected to be tabled in the Maharashtra Legislative Assembly later this year.
Stakeholders are watching closely as the move could set a precedent for digital asset regulation across India, potentially influencing similar initiatives in other states.