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In a groundbreaking development, renowned producer-filmmaker Boney Kapoor and esteemed developer Ashish Bhutani secured the bid to bring the Noida Film City project to life. This exciting venture, presented by Kapoor's Bayview Projects and Bhutani Group, earned the approval of the Yamuna Expressway Industrial Development Authority (Yeida) on Tuesday.
The duo, Kapoor and Bhutani, showcased their vision for the Film City through a comprehensive Detailed Project Report (DPR), highlighting the array of facilities that will grace the landscape once the project reaches fruition. The Film City, a monumental undertaking in a public-private partnership, is set to sprawl over 1,000 acres, with an initial 230 acres earmarked for the first phase.
Situated near the upcoming Noida International Airport in Jewar, the Film City will occupy YEIDA Sector-21. The first phase, covering 230 acres, is meticulously planned, dedicating 33% (75 acres) to commercial spaces and 67% (155 acres) to industrial areas. The Yeida had kickstarted the journey by issuing a global e-tender on September 29, seeking partners to develop the Film City on a design, build, finance, operate, and transfer (DBFOT) basis.
A key advantage emphasized in the DPR is the strategic proximity of the Film City to the upcoming Noida International Airport. The project aims to offer a holistic environment for filmmakers, ensuring convenience and efficiency by having all essential facilities under one roof.
The journey to this milestone faced its share of challenges. The initial global tender for the Film City was floated in November 2021, but due to a lack of response, a second tender was issued in October 2022. Despite extensions to deadlines - first to February 14, 2023, then to February 28, 2023, and finally to March 31, 2023 - no bids were received.
As outlined in the DPR, the chosen developer is required to provide Rs 144 crore as security money before commencing development at the site. The high-level committee, led by UP chief secretary DS Mishra, gave the green light to the DPR, signifying a crucial step forward in the realization of this ambitious project. The developer is granted a substantial 90-year timeline to shape this expansive project in Sector 21, closely positioned to the Jewar airport site.
This project represents a significant leap forward for the entertainment industry and the development landscape in Noida. With Kapoor's creative insight and Bhutani's expertise, the Noida Film City project is poised to be a game-changer, creating a vibrant hub for cinematic endeavors. As the journey unfolds, the Film City promises to be a landmark that not only caters to the artistic needs of the industry but also contributes to the economic and cultural growth of the region. The dynamic duo of Kapoor and Bhutani has embarked on a journey that holds the potential to redefine the cinematic landscape in Noida.
