Film City DPR submitted, ₹10,500 crore needed for development
The Film City projected proposed at Greater Noida sector 21 will require around ₹10,500 crore, according to the draft detailed project report (DPR).
The DPR was presented to the Yamuna expressway industrial development authority (Yeida) on Monday. The authority will now study it and send it to the state government in a week’s time.
“We will study and discuss as to how much land allocation for a particular facility was made in the DPR (and add our suggestions). Then it wil be sent to the state government for their suggestions on the financials. After that we will make changes and finalise it,” said Arun Vir Singh chief executive officer of Yeida.
Officials quoted from the 2000-page DPR that suggested mixed-land use -- residential, commercial, institutional and recreational --- will attract investment from international investors.
The DPR has also spoken on the three proposed models -- public-private partnership (PPP), the authority alone, or another single developer -- to develop the project.
“We will study to ascertain if the PPP model will be financially more viable. We will go by the state government’s directions on the model to give opportunity to create world-class facilities for filmmakers,” said Singh.
On September 18 last year, UP chief minister Yogi Adityanath had announced the development of the Film City project that will provide the platform to encompass all aspects of filmmaking -- related with script, music, writing, editing and production -- under one roof. Subsequently, Yeida offered 1,000 acres located only 6 km from the upcoming Noida International Airport and 12 km from the Eastern Peripheral Expressway.
On December 14, 2020, Yeida hired CBRE South Asia Private Limited as the consultant for the project to prepare the report.