Noida Film City Gets Go-Ahead As Boney Kapoor-Led Consortium Signs Pact With YEIDA

The signing ceremony was attended by Kapoor, Ashish Bhutani of Bhutani Group, YEIDA CEO Arun Vir Singh, and Additional CEO Shailendra Bhatia at YEIDA's office in Greater Noida

Filmmaker Boney Kapoor

Source : PTI

Filmmaker Boney Kapoor and Bayview Projects, supported by Bhutani Infra, formally entered into a concession agreement with YEIDA on Thursday for the development of Noida International Film City. This agreement follows Bayview Projects winning the bid on January 31, offering the Uttar Pradesh government an 18 per cent revenue share, the highest among four competing bidders.

The signing ceremony was attended by Kapoor, Ashish Bhutani of Bhutani Group, YEIDA CEO Arun Vir Singh, and Additional CEO Shailendra Bhatia at YEIDA's office in Greater Noida. According to officials, the developer has received the allocated land parcel under the concession agreement to start work on the first phase of the project.

The film city, to be constructed over 1,000 acres in Sector 21 of YEIDA near Noida along the Yamuna Expressway, will see 230 acres developed in its initial phase. Of the total land, 220 acres are designated for commercial purposes and 780 acres for industrial use.

The ambitious project, estimated at Rs 1,510 crore according to official documents reviewed by the news agency PTI, is a key initiative of the Yogi Adityanath government. Bayview Projects initially competed against T-series (Super Cassettes Industries Pvt Ltd), Supersonic Technobuild (backed by Akshay Kumar and Maddock Films), and 4 Lions Films (supported by filmmaker KC Bokadia and others) for the development rights of the film city.

On January 30, Bayview Projects emerged as the highest bidder in the competitive process by proposing an 18 per cent share of gross revenue to the state government. The company will possess the authority to design, build, finance, and manage the project. Subletting of properties will not be permitted; however, the company may lease them out and collect license fees.

The Film City project will be segmented into seven zones, featuring a central signature tower equipped with observation decks, a cinema museum, a helipad, and other state-of-the-art amenities. In addition to the essential film production facilities covering 60 acres, this integrated Film City, situated only 6km from the Noida International Airport, will feature a film university sprawling across 20 acres, along with factories dedicated to manufacturing sets, costumes, and props covering 15 acres.