Infrastructure
Noida's Film City Project Gains Momentum As Yamuna Authority Signs Concession Agreement, Phase-1 Targeted For 2027
Swarajya Staff
Jun 28, 2024, 02:16 PM | Updated 02:16 PM IST
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The Yamuna Expressway Industrial Development Authority (YEIDA) has entered into a concessionaire agreement with Bayview Projects LLP and consortium to develop the Noida International Film City in Sector-21, near the upcoming Noida International Airport.
With this development, the ambitious project of Uttar Pradesh Chief Minister Yogi Adityanath, which had previously encountered challenges in attracting developers, despite multiple tender issuances, is now gaining momentum.
Arun Vir Singh, Chief Executive Officer of YEIDA, said, “We will provide all infrastructure support to the project, including roads, water supply, electricity, public transport, safe environment and other services so that this region can become the most sought-after destination for all kinds of filmmakers, including big screen projects, OTT platform releases or International projects.”
The film city project is expected to create new opportunities not only for artists in Uttar Pradesh but across the entire country.
The concessionaire has assured YEIDA that they will commence ground work within six months and have set a target for completing the first phase of the project.
The Film City project is planned for sector-21 on a 1,000-acre plot of land, situated 6 km from the upcoming international airport in Jewar and 12 km from the eastern peripheral expressway.
The project faced delays during the tender phase due to limited response in the initial rounds.
The first global tender was launched on 22 November 2021 but attracted only one applicant, which did not meet the requirement of having at least three participants and was therefore disqualified.
A second tender was issued in October 2022 with a deadline of 28 February 2023, later extended to 31 March 2023, but no bids were received.
In the third global tender, YEIDA revised the project proposal into three phases to facilitate participation by multiple entities, acknowledging the challenge of undertaking the entire project at once.
The tender was awarded in January 2024 to film producer Boney Kapoor led Bayview Projects LLP, which offered an 18 per cent gross revenue share to the state government.
The first phase, covering 230 acres will be developed at an estimated cost of Rs 1,510 crore.
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