Boney Kapoor signs agreement with Yamuna authority for Film City; work is expected to begin in six months

By Bricksnwall | 2024-06-28

At a cost of ₹1,510 crore over eight years, the Film City project is planned to be constructed over 1,000 acres, with the first phase encompassing 230 acres.

The Yamuna Expressway Industrial Development Authority (Yeida) and consortium partners signed a concessionaire agreement on Thursday for the development of the International Film City in Sector 21, close to the future Noida International Airport. The parties were filmmaker Boney Kapoor's company and Bayview Projects LLP.

Roads, water supply, electricity, public transport, a safe environment, and other services are just a few of the infrastructure support services we will offer to the project in order to make this area the most sought-after location for filmmakers working on big-screen, OTT platform, or international projects. It is our goal that the Film City project will provide opportunities for artists in Uttar Pradesh as well as across the nation. "This project will fulfill the dreams of the youth in the area," stated Arun Vir Singh, CEO of Yeida, the company that donated the land for the second film city in the state, following the one located in Sector 16A of Noida.

Kapoor gave Yeida his word that they would start construction within six months and set a deadline for finishing the project's first phase. He stated that he intends to use the new film city for some of the filming of his next film, "No Entry Mein Entry."

Even if only one story is built there, I will shoot certain scenes for my next picture there. It will take at least eighteen months to complete. For the construction, we will appoint foreign consultants. Last month, I went on a tour to London and Los Angeles, where I observed the newest innovations at many studio visits. "I informed Netflix and Amazon officials about the upcoming international film city in Greater Noida and assured them that, in comparison to their current expenses, they would spend 50% less on filming a film there," Kapoor stated.

Kapoor underlined that the planned film city will provide amenities at about half the cost of competing studios, making it a one-stop shop for filmmakers globally.

Regarding the Film City initiative

At a cost of ₹1,510 crore spread over eight years, the project is planned to be constructed over 1,000 acres, with the first phase encompassing 230 acres.

On January 30, 2024, Bayview claimed to have been the top bidder and had given the state government an 18% gross revenue share.

155 acres are reserved for the core film sector, and 75 acres are set aside for commercial development out of the 230 acres allotted to Bayview. Three years are anticipated to pass before the first phase of building, which includes the film university and filmmaking facilities, is finished.

Before beginning construction, Kapoor and representatives from Bhutani Infra would tour other film cities across the globe to learn from their best practices, he said.

To make the subsidy structure for filming in Uttar Pradesh simpler, we will ask the chief minister for help. Regardless matter how much they spend in the state, all filmmakers are currently given a fixed subsidy by the government. A multi-tiered subsidy structure that is commensurate with the amount spent is required. Hollywood filmmakers frequently travel to Canada because of the large incentives the country offers, according to Kapoor.

The project will incorporate cutting-edge technology, premier studios, shopping centers, and tourist attractions, setting a new global benchmark," stated Ashish Bhutani, CEO of Bhutani Group. Actors, production teams, and foreign filmmakers will use the Noida International Airport for transit, making it a big attraction.

Source: Hindustan Times