Maharashtra is set to become the first Indian state to implement tokenisation of land and real estate assets using blockchain technology – a move aimed at unlocking underperforming real estate value, improving transparency, and creating new avenues for monetisation.

The state government is currently developing a sandbox pilot to test the entire process of asset tokenisation. “In the next few months, we are sandboxing this entire pilot for tokenisation. We are creating mock regulators, a mock exchange, and will ensure that the entire transaction cycle is simulated,” Kaustubh Dhavse, Chief Advisor (Investments & Strategy) to the Chief Minister of Maharashtra, said at India Web 3.0 ‘Paving the road to a decentralised future’ event organised by Moneycontrol. “Once we are able to deliver that

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