UP’s mega Rs 1,000 crore ‘Film City’: Boney Kapoor-backed firm to build international standard project near Noida International Airport

Film producer Boney Kapoor’s Bayview Projects LLP and the Bhutani Group have successfully obtained the rights for the collaborative development of the Film City project in Sector 21, near the Jewar airport in Noida.

Producer-director Boney Kapoor and real estate developer Bhutani Group’s Bayview Projects offered the highest revenue share of 18 percent to the UP government for the Film City, which will be built under the public-private partnership (PPP) model, according to Yamuna Expressway Industrial Development Authority (YEIDA).

“M/s Bayview Projects LLP will develop the International Film City in the Yamuna Expressway area after making the highest bid for the Film City,” YEIDA said in a statement. 

The selection of the concessionaire remains to be approved by the UP government before land is allotted to it for the development of the project, YEIDA OSD Shailendra Bhatia told PTI while adding that the approval from the state cabinet is expected in the next 15 days.

Bayview’s bid to success

“Bayview Projects has formed a consortium with two more companies for the projects. These companies are Parmesh Construction Company Limited and Noida Cyberpark Private Limited.

“Bayview Projects (operations and maintenance) has 48 percent equity in the consortium while Parmesh Construction (financial) and Noida Cyberpark (technical) have 26 percent equity each,” the YEIDA mentioned.

The financial bid for the greenfield project was opened on Tuesday afternoon by YEIDA, which functions under the Uttar Pradesh government.

Earlier on Saturday, YEIDA said four companies viz M/s. Bayview Projects LLP, 04 Lions Films Private Limited, M/s. Supersonic Technobuild Private Limited and M/s. Super Cassettes Industries Private Limited (T series) made a presentation for the project and they have been found technically qualified for the final stage of the selection process, which is a financial bid.

Notably, the second highest revenue share of 15.12 percent was offered by 4 Lions Films, followed by 10.80 percent by Supersonic Technobuild, while T-Series offered the lowest share of 5.27 percent.

Decoding Noida’s mega ‘International Film City’

The 1000 crore mega project of ‘International Film City’ will come up in YEIDA Sector-21, near the upcoming Noida International Airport in Jewar, Uttar Pradesh.

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 percent) of industrial area. Earlier, the Authority had issued a global e-tender on September 29 to develop the film city on a design, build, finance, operate and transfer (DBFOT) basis.