In January this year, Bayview Projects LLP, a joint venture between Boney Kapoor and Noida-based real estate developer BhutaniGroup, had emerged as the highest bidder for the development of the first phase of the proposed 1,000-acre film city near the upcoming Jewar airport in Uttar Pradesh.
In the JV, the Bhutani group will be responsible for the real estate part, while Boney Kapoor’s firm will look after the operational aspect of Film City.
The first phase is about 230 acres, and the company will have a first right of refusal for subsequent phases.
T Series, KC Bokadia’s Lions Films Pvt Ltd, Supersonic Technobuild Pvt Ltd of Maddock Films, and Cape of Good Films LLP were the other companies that had submitted bids.
YEIDA has invited bids for a 1,000-acre film city near the upcoming airport, with an estimated investment of Rs 10,000 crore.Real estate consultants CBRE, which had prepared a detailed project report, had proposed that the project be completed in three phases, with the first phase to be developed on 230 acres. The entire project should be completed by 2028–29.
The objective of the project is to provide an integrated media infrastructure for the movie business value chain.
The concession period will be for 40 years, which will be extendable for 30 years.
The selected company will pay an annual premium or revenue share, whichever is higher, to the authorities.
The proposed 1,000-acre site includes 740 acres for filming, 40 acres for film institutes, 120 acres for an amusement park and retail, and the remaining 100 acres for commercial use.
The proposed land is located at Sector 21 on the Yamuna expressway, four kilometres from Jewar Airport.
