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@article{205326,
        author = {Dr Majid Wahid Shaikh},
        title = {Land Title Risk and Investment Efficiency in Build-to-Suit Industrial Development: Developing a BTS Development Risk Index for Emerging Industrial Corridors in India},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {13},
        number = {1},
        pages = {6922-6938},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=205326},
        abstract = {The rapid expansion of industrial corridors, logistics parks, and manufacturing clusters has significantly increased demand for Build-to-Suit (BTS) industrial developments across India (Department for Promotion of Industry and Internal Trade [DPIIT], 2023; National Industrial Corridor Development Corporation [NICDC], 2025). While BTS projects offer customized infrastructure, long-term tenancy, and operational efficiency advantages, their success remains highly dependent on the quality and certainty of underlying land assets. Land title disputes, ownership fragmentation, encumbrances, acquisition complexity, regulatory uncertainty, and deficiencies in land administration continue to pose significant challenges to industrial development and investment decision-making (PRS Legislative Research, 2017; World Bank, 2020). Secure property rights and effective land governance are widely recognized as critical determinants of investment, economic growth, and efficient land markets (Deininger, 2003; Feder & Feeny, 1991). Despite the growing importance of industrial real estate in India's economic development strategy, limited research has examined the relationship between land title risk and BTS project performance.
This study investigates the impact of land title risk on BTS industrial development success and proposes a BTS Development Risk Index (BDRI) as a structured framework for industrial land investment assessment. Drawing upon Property Rights Theory, Transaction Cost Economics, Institutional Theory, and Land Governance literature (De Soto, 2000; North, 1990; Williamson, 1985; Deininger et al., 2012), the study develops a conceptual model linking land title risk factors with project delays, cost escalation, investment efficiency, occupancy performance, and overall BTS project success. A quantitative research methodology based on secondary data analysis is proposed, utilizing government records, industrial reports, legal databases, land administration documents, and industrial corridor datasets from major industrial regions in Maharashtra and Gujarat (Johnston, 2017; Saunders et al., 2019).
The study identifies ownership fragmentation, litigation history, acquisition complexity, encumbrance risk, regulatory uncertainty, mutation inaccuracies, and encroachment risk as key determinants of industrial development outcomes. These factors increase transaction costs, create institutional uncertainty, and adversely affect project implementation and investment returns (Buitelaar, 2007; Williamson, 1979). The proposed BDRI provides a practical decision-support tool for developers, investors, financial institutions, and policymakers seeking to evaluate industrial land parcels prior to acquisition and development. The findings contribute to industrial real estate literature by integrating land governance considerations into BTS development analysis and establishing a measurable framework for assessing industrial land investment risk. The study further highlights the importance of institutional reforms, land administration modernization, and title certainty in improving industrial competitiveness and attracting long-term investment in emerging industrial economies (Deininger et al., 2012; World Bank, 2020).},
        keywords = {Build-to-Suit Development, Land Title Risk, Industrial Real Estate, Industrial Parks, Land Governance, Industrial Land Investment, BTS Development Risk Index, Industrial Corridors, Investment Efficiency, India.},
        month = {June},
        }