Will develop Film City in G Noida ourselves if we can’t find developers: Yeida

The state government also agreed with Yeida on Monday that if developers do not come forward, the project will be developed without them

The Yamuna Expressway industrial development authority (Yeida) announced on Wednesday that it has decided to develop the proposed Film City in sector 21 on its own if it cannot find developers or hire developers on its terms.

The Yamuna Expressway industrial development authority has set March 31 as the final date to apply for the project. (HT Archive)

Yeida had set the end of November 2022 as the deadline for developers or companies to apply for the project. When no developer showed up to buy the bid and apply for the project, the authority extended the deadline to the end of January 2023. Yeida extended the deadline until February 14, and later March 31 as the final date to apply for the project. Still, no film company has applied for the project in Yeida’s global bid process, which is now in its second round.

Earlier in 2021, no company expressed interest in this project, prompting the Uttar Pradesh government and Yeida to revise the detailed project and re-float the tender in 2022, according to officials familiar with the matter.

“We have decided that we will develop this film city project on our own if the companies will not come forward for the same or if we cannot hire the company on our terms. Therefore, in contrast to the ongoing tender in which we want to hire a company that can develop and engage filmmakers in this project, we will develop all basic facilities such as roads, drains, parks, and other services in the film city and allot plots to filmmakers,” said Arun Vir Singh, chief executive officer of Yeida.

The developer will be required to pay ₹144 crore as security before work begins on the site, according to the revised detailed project report (DPR). The firm will be given 90 years instead of 40 to develop the project, which will span 1,000 acres of land near the Jewar airport. The project’s budget has also been reduced from ₹10,000 crore to ₹7,210 crore. Furthermore, the committee has allowed OTT (over-the-top) platforms to apply for this project.

On January 8, 2021, Yeida hired Coldwell Banker Richard Ellis (CBRE), an American commercial real estate services and investment firm, as a consultant for the DPR, following Uttar Pradesh chief minister Yogi Adityanath’s announcement of the development of another Film City in Gautam Budh Nagar.

“We hope companies will apply for the project and submit the revised DPR. But if they don’t think it’s feasible, we’ll develop it ourselves,” Singh said.

The state government also agreed with Yeida on Monday that if developers do not come forward, the project will be developed without them.