Film City tender to be issued soon after state approval - Hindustan Times
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Film City tender to be issued soon after state approval

Sep 30, 2022 12:04 AM IST

According to the new DPR, the developer will have to pay ₹144 crore as security before work begins at the site. The firm will get 90 years instead of 40 to develop the project spread over 1000 acres of land near the Jewar airport site.

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) is set to issue a tender for the Film City project in Sector 21. The Uttar Pradesh cabinet is likely to approve the revised detailed project report (DPR) soon, officials said. A high-level committee headed by UP chief secretary DS Mishra has already approved the revised DPR.

Yeida floated a global tender in November last year but failed to select any suitable developer because the only agency which applied for the bid did not fulfil the required terms and conditions. (HT Photo)
Yeida floated a global tender in November last year but failed to select any suitable developer because the only agency which applied for the bid did not fulfil the required terms and conditions. (HT Photo)

According to the new DPR, the developer will have to pay 144 crore as security before work begins at the site. The firm will get 90 years instead of 40 to develop the project spread over 1000 acres of land near the Jewar airport site. The budget for the project has also been revised from 10,000 crore to 7,210 crore. The committee has further allowed OTT platforms to apply for this project.

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“We will float a global tender after the UP cabinet approves the revised DPR. The Film City project will not only create opportunities in the region but also boost growth with investments from global players,” Arun Vir Singh, chief executive officer, Yeida, said. The project will be developed in four phases and the developer will be required to finish Phase 1 in four years. “The developer will also be at liberty to prepare and develop the layout for this project. The developer was earlier told to work on a layout approved by the government,” Singh added.

Yeida floated a global tender in November last year but failed to select any suitable developer because the only agency which applied for the bid did not fulfil the required terms and conditions. Following this, the authority and the state government decided to revise the DPR.

Yeida hired Coldwell Banker Richard Ellis (CBRE) -- an American commercial real estate services and investment firm -- as a consultant for the DPR on January 8, 2021, after Uttar Pradesh chief minister Yogi Adityanath announced the development of another Film City.

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