India’s recent achievements in space exploration have sparked an interesting debate on the possibility of Private companies acquiring real estate rights on the moon. While this idea may seem like lunacy or science fiction to some, it is not a completely new concept in the realm of outer space. Private claims on the moon have been made in the past, and organizations like the Lunar Embassy and the International Association of Human Planetary Exploration have been selling lunar real estate for years. However, the legal validity of these claims is questionable, as registration of a sale deed does not establish ownership.

The principle of property rights in space is a complex issue. According to English common law, “Cuius est solum eius est usque ad coelum et ad inferos,” meaning whoever owns the land also owns everything above and below, all the way to infinity. However, international treaties like the Outer Space Treaty (OST) of 1967, which India has ratified, explicitly state that outer space, including the moon, is not subject to national appropriation. These treaties also require authorization and supervision by the appropriate state party for non-governmental activities in outer space.

While the focus of these treaties has primarily been on peaceful space exploration and preventing the militarization of space, they do not specifically address property rights or the mining of extraterrestrial resources. The United States, for example, has enacted the US Commercial Space Launch Competitiveness Act, which encourages Private Sector investment in space while explicitly stating that it does not assert sovereignty or ownership over any celestial body. This act does not override the OST but provides a pro-growth environment for the commercial space industry.

Recognizing the potential for Private Sector Participation, India has established organizations like the Indian National Space Promotion and Authorisation Centre (IN-SPACe), NewSpace India Limited (NSIL), and Antrix Corporation. As the fourth country to successfully land a spacecraft on the moon, India has become a global superpower in space exploration. This opens up new opportunities for the Indian government and private sector to draft legislation on mining and extraterrestrial property rights, which would complement existing international treaties.

In conclusion, while the idea of private companies acquiring real estate rights on the moon may still be considered a distant possibility, the recent accomplishments of countries like India demonstrate the potential for private sector participation in space exploration. By navigating the complexities of international treaties and drafting legislation that aligns with their interests, countries can create a pro-growth environment for the commercial space industry while respecting the principles outlined in existing space treaties.

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