Boney Kapoor acquires land for Noida International Film City
What's the story
The Yamuna Expressway Industrial Development Authority (YEIDA) finally handed over the land to a consortium headed by filmmaker Boney Kapoor and the Bhutani Group. The land, situated close to the upcoming Noida International Airport, will be developed into a Film City. Uttar Pradesh Chief Minister Yogi Adityanath is expected to lay the foundation stone for the project in March, although an exact date is yet to be confirmed.
Project details
Film city project to span 1,000 acres near Noida airport
The Film City project will span 1,000 acres in Sector 21, about six kilometers from the airport on the Yamuna Expressway. The first phase of the project will span 230 acres and cost ₹1,510cr. YEIDA CEO Arun Vir Singh said the project would be fully developed in eight years, with the first phase likely to be completed in three years.
Facilities overview
Film city to offer comprehensive infrastructure for filmmakers
The Film City will have luxury villas for actors, high-end studios, production houses, a film academy, and entertainment zones. It will provide complete infrastructure to domestic and international filmmakers. The master plan has 15 three-bedroom villas with a gymnasium, private swimming pools, and space for personal staff. In its first phase, the consortium also plans to build studios, outdoor sets, and a university for training technicians.
Bid victory
Consortium won bid with 18% revenue share offer
In June 2024, the Bayview Projects LLP and Bhutani Group consortium won the development project by promising an 18% revenue share to the Uttar Pradesh government. This offer beat other bids from T-Series and consortiums led by actor Akshay Kumar and producer KC Bokadia. A concession agreement was signed with YEIDA in June, which said the consortium would start sharing revenue with the government after an eight-year moratorium period (the period when the borrower isn't obligated to make payments).