The Yamuna Expressway Industrial Development Authority (YEIDA) has entered into a concession agreement with Bayview Projects LLP and the consortium that will develop the Noida International Film City in Sector-21 near the Noida International Airport.
Uttar Pradesh Chief Minister Yogi Adityanath’s ambitious project, which earlier faced difficulty attracting developers despite issuing several tenders, is gaining momentum.
Arun Vir Singh, Chief Executive Officer, YEIDA said, “We will provide all the infrastructural support for this project including roads, water supply, electricity, public transport, safe environment, and other services so that this area can become the most preferred destination for all types of filmmakers, including big screen projects, OTT platforms.”
The Film City project will provide new opportunities to artists from across the country. The concessionaire has promised YEIDA that they will start work on the ground within six months and aim to complete the first phase of the project.
The Film City project will be built on 1,000 acres of land in Sector 21. It is 6 km from the upcoming international airport at Jewar and 12 km from the Eastern Peripheral Expressway.
The project got delayed in the tender process due to low response in the initial phase.
The first global tender began on November 22, 2021, but an applicant who did not meet the requirement of at least three partners was disqualified.
A second tender was issued in October 2022, with a deadline of February 28, 2023, but no bids were received.
YEIDA revised the project proposal into three phases to facilitate the participation of multiple entities In the third global tender, which takes on the challenge of completing the entire project in one go.
The tender was awarded by film producer Boney Kapoor to Bayview Projects LLP in January 2024, which gave the state government an 18 percent gross revenue share.
The first phase will be developed over 230 acres and will cost Rs 1,510 crore.