Boney Kapoor’s consortium wins bid for 230-acre film city in Noida
Boney Kapoor’s consortium wins bid for 230-acre film city in Noida
Notably Filmmaker Boney Kapoor’s consortium to build a film city in Noida spread across 230 acres alongside the Yamuna Expressway has won the bid after an inordinate delay.
Even actor Akshay Kumar and producer Bhushan Kumar had made a bid, but, Boney Kapoor’s
consortium outbid theirs.
As per media reports, the film city will consist of a film university, a cinema museum, and a helipad, among other facilities. It’s located just 6 km away from the upcoming Noida International Airport.
Reportedly, the other bidders apart Boney Kapoor were
Super Cassettes Industries Private Limited (T-Series), Supersonic Technobuild Private Limited (Dinesh Vijan’s Maddock Films, Akshay Kumar’s Cape of Good Films LLP, and others), Bayview Projects LLP (backed by Boney Kapoor, real estate company Bhutani Group, and Noida Cyber Park), and 4 Lions Films Private Limited (backed by filmmaker KC Bokadia and others) made their presentations in June for the greenfield project to the officials of the Uttar Pradesh government.
The project is being developed on the public-private partnership (PPP) model.
Bayview Projects LLB emerged as the company offering the highest revenue share to the state government and was thus selected as the developer for the greenfield project. The bid for the project was floated on September 30, 2023, with January 5, 2024, as the deadline. June was the third time that the bid for the development of the Film City has been floated after two previous attempts failed to attract investors.
Bayview Projects LLP will now sign a concession agreement with Yamuna Expressway Industrial Development Authority in June to take possession of the land. It will have six months from the signing of the agreement to start construction.
A pet project of Uttar Pradesh CM Yogi Adityanath, the Noida Film City is envisaged as an international project spanning over 1,000 acres (230 acres in first phase) of land along the Yamuna Expressway.
Of the 230 acres, 155 acres are reserved for the core film industry, while 75 acres are designated for commercial development. The Film City will boast luxuries like a cinema museum, a film university, and a helipad, among others.
News Edit K.V.Raman
