Work on Noida Film City likely to begin in November, says Yeida
GREATER NOIDA: The proposed Film City in Sector 21 along the 165km Yamuna Expressway is likely to cost the government about 10,000 crore, according to the detailed project report submitted recently to the Yamuna Expressway Industrial Development Authority (Yeida).
The DPR of the project was sent to the Uttar Pradesh government on Thursday for necessary approvals, Yeida officials said, adding that the work on the ambitious project is likely to start by the end of November this year.
“We got the DPR made from an international consultant, CBRE, and sent the same to the state government for their consideration. Once we get the approvals from the state, we will float a global tender to select the developer for the development of this mega project that will boost growth and create opportunities not only in this region but also in the entire state,” said Arun Vir Singh, chief executive officer, Yeida.
As per the DPR, the production of movies can be started by 2024, when the Noida International Airport project, which is in close proximity to the Film City project, will become operational.
The Film City project will be developed on over 1,000 acres of land, the officials said. The DPR has suggested that film facilities should be built on 740 acres. Besides, there should be an amusement park on 120 acres, commercial development on 40 acres, 34 acres should be earmarked for retail space, 21 acres for five-star hotels, and 40 acres each for residential purposes and world-class film institutes, the DPR said.
The authority had on January 8 hired CBRE as consultant after the UP chief minister Yogi Adityanath announced that his government will develop a film city to encourage film production in the state.
The DPR has suggested three models for the development of the film city. One model is that the developer will give a certain amount of rent to the state and Yeida, second model says that the developer will give stake to both the state and Yeida, third model is that the developer can give share in profit annually. Now, the state government will decide which model should be followed to develop the project that involves an investment of around ₹10,000 crore, the officials said.
“Once we get the green signal, we will issue request for proposal to select an agency for the development of this project. And this process will be completed by October end so that the work begins by November at the site,” said Singh.
On September 18 last year, the chief minister had announced the development of the Film City project. Subsequently, Yeida offered land located only 6km from the upcoming Jewar airport and 12 km from the Eastern Peripheral Expressway. The proposed Film City is expected to provide the platform to encompass all aspects of filmmaking -- related with script, music, writing, editing and production -- under a single roof.