July 1, 2024: Filmmaker Boney Kapoor and Bhutani Infra-backed firm Bayview Projects on June 27, 2024, signed a concession agreement with the Yamuna Expressway Industrial Development Authority (Yeida) for the development of Noida International Film City. Bayview Projects secured the project on January 31, 2024, by offering an 18% revenue share to the Uttar Pradesh government, the highest among four bidders.
The agreement was signed by Boney Kapoor and Ashish Bhutani of Bhutani Group in the presence of Yeida CEO Arun Vir Singh and Additional CEO Shailendra Bhatia at the authority’s office in Greater Noida. With the concession agreement in place, the developer has been granted the allotted land parcel to commence the first phase of the project.
The film city will be constructed on a 1,000-acre plot in Sector 21 of Yeida, along the Yamuna Expressway near Noida, under a public-private partnership. The first phase, covering 230 acre, is expected to be completed by 2027 and will focus on establishing film-related facilities and a film institute.
Out of the total 1,000 acre, 220 acre is designated for commercial use and 780 acre for industrial use. The film city will feature seven distinct zones, including a 60-acre production and studio space, a 20-acre film university, a 15-acre factories and craftsmanship area, a 10-acre administrative and creative hub and a dedicated entertainment and leisure zone.
The project is estimated to cost Rs 1,510 crore. For the first two years, Rs 50 crore is earmarked for construction, followed by Rs 75 crore in the third year, and Rs 100 crore for expenditures from the fourth to the eighth year.
Bayview Projects faced competition from Super Cassettes Industries (T-Series), Supersonic Technobuild (backed by film star Akshay Kumar, Maddock Films and others), and 4 Lions Films (backed by filmmaker KC Bokadia and others) for the development of the film city.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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