Unlocking the Reel Potential: Yeida’s Film City Project Takes a Leap Forward
In a significant development for the Yamuna Expressway Industrial Development Authority (Yeida), the financial bids for the coveted Film City project were opened, revealing Bayview Projects LLP and Bhutani Group as the front-runners with the highest bid promising a substantial 18 percent share of the profit to the government. This marks a crucial step towards the realization of the ambitious film city project spanning 1,000 acres in Sector 21, near the Jewar airport site.
The four qualified companies in the technical evaluation, including notable names like Boney Kapoor’s Bayview Projects LLP, KC Bokadia’s Lions Films Private Limited, actor Akshay Kumar’s Supersonic Technobuild Private Limited, and T-Series’ Super Cassettes Industries Private Limited, each presented their bids. However, Bayview Projects LLP and Bhutani Group emerged as the top contenders.
According to the laid-down rules, the company offering the highest gross revenue share secures the coveted position. Bayview Projects LLP’s commitment to the maximum profit share positioned them as the selected bidder. The next step involves seeking approval from the state government for the necessary procedures, as explained by Arun Vir Singh, CEO of Yeida.
The film city, envisaged on 1,000 acres, will allocate 220 acres for commercial use and 780 acres for industrial purposes. In the initial phase, the developer is set to transform 230 acres into a thriving film city. The Detailed Project Report (DPR) outlines a ₹7,210 crore project, granting the developer 90 years to bring this cinematic vision to life.
The Yeida’s journey to materialize the Film City project faced challenges, with the global tender issued on three occasions before finding takers. The ambitious venture gained traction when the Yeida hired Coldwell Banker Richard Ellis as a consultant, signaling the commitment of the Uttar Pradesh government to foster film production within the state.
As the financial bids take center stage, the film city project inches closer to becoming a cinematic reality, promising a boost to the region’s economy and a new hub for the Indian film industry. The upcoming stages, including committee reviews and state government approvals, are crucial milestones in this transformative cinematic endeavor.