Filmmaker Boney Kapoor and real estate developer Bhutani Infra’s firm ‘Bayview Projects’ has 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. The entire project should be completed by 2028-29. The financial bid for the greenfield project was opened on Tuesday afternoon by the Yamuna Expressway Industrial Development Authority (YEIDA), which functions under the Uttar Pradesh government and Bayview Projects won the contract.
“M/s Bayview Projects LLP (Boney Kapoor and Bhutani Group) will develop the International Film City in the Yamuna Expressway area after making the highest bid for the Film City,” YEIDA said in a brief statement. The project site, close to the upcoming Noida airport, comprises commercial spaces covering 75 acres and industrial 155 acres.
The selection of the concessionaire although remains to be approved by the state government before land is allotted to it for the development of the project, according to an official. Bayview Projects was competing against Super Cassettes Industries Private Limited (T-series), Supersonic Technobuild Private Limited (backed by film star Akshay Kumar, Maddock Films, and others), and 4 Lions Films Private Limited (backed by filmmaker KC Bokadia and others) to develop the film city, considered a pet project of Uttar Pradesh Chief Minister Yogi Adityanath.
A meeting was held at the office of the Yamuna Expressway Authority on Saturday, when representatives of the four companies made presentations on crucial aspects such as their timeline, concept and vision with regard to Film City.
The Film City is to be built in a public-private partnership and is envisaged in over 1,000 acres (230 acres in the first phase) of land along the Yamuna Expressway near Noida.
The film city will come up in YEIDA Sector-21, near the upcoming Noida International Airport in Jewar. Under Phase-1 of the project, a total of 230 acres will be developed, which will include 75 acres (33%) of commercial and 155 acres (67 per cent) of industrial area. The Authority had issued a global e-tender on September 29 to develop the film city on design, build, finance, operate and transfer (DBFOT) basis.
The first global tender for the film city was floated in November 2021. However, due to no response from the bidders, the Authority issued a second tender in October 2022. The deadline was extended to February 14, 2023, later to February 28, 2023, and then again to March 31, 2023, but no bid was received. As per the Detailed Project Report (DPR), the developer will have to pay Rs144 crore as security money before development begins at the site. The high-level committee, headed by UP chief secretary DS Mishra, has approved the DPR for the progress on this crucial project. The developer will get 90 years to develop this project spread on 1,000 acres in Sector 21 located in close proximity to Jewar airport site, the DPR said.
