Boney Kapoor officially takes over possession of Noida Film City
What's the story
Filmmaker Boney Kapoor and Bhutani Infra's firm, Bayview Projects, have secured the rights to develop the Noida International Film City. The concession agreement was signed with the Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday, June 27, 2024. The signing ceremony was attended by YEIDA CEO Arun Vir Singh and Additional CEO Shailendra Bhatia at their office in Greater Noida.
Winning bid
Bayview Projects won bid for Noida Film City development
Bayview Projects emerged victorious in the bidding process on January 31, offering an 18% revenue share to the Uttar Pradesh government. This was the highest bid among the four contenders. Following the agreement, Kapoor's consortium was given possession of the allotted land parcel to commence work on the first phase of this ambitious project.
Project overview
Details unveiled for Noida International Film City project
The Noida International Film City is set to be constructed on a 1,000-acre land parcel in Sector 21 of YEIDA along the Yamuna Expressway near Noida. The first phase of development will cover approximately 230 acres. The total land allocation includes 220 acres for commercial use and the remaining 780 acres are designated for industrial use.
Project financing
Estimated cost and competitors for Noida Film City project
The Yogi Adityanath government-backed project is estimated to cost ₹1,510 crore, according to official documents. Bayview Projects was initially in competition with Super Cassettes Industries Pvt Ltd (T-series), Supersonic Technobuild (supported by film star Akshay Kumar, Maddock Films, and others), and 4 Lions Films (backed by filmmaker KC Bokadia and others) for the development rights to the film city.
Twitter Post
Look at Boney Kapoor signing the agreement here
#WATCH | Filmmaker Boney Kapoor signs a concession agreement with Yamuna Expressway Industrial Development Authority (YEIDA) and takes possession for Noida Film City. pic.twitter.com/Gdq7wp7v1u
— ANI (@ANI) June 27, 2024