A consortium led by filmmaker Boney Kapoor’s company, Bayview Projects, in collaboration with the Noida-based real estate developer Bhutani Group, has officially taken possession of the land for the proposed Film City near the Noida International Airport. The group has also received the final site clearance approval from the Uttar Pradesh government for the development along the Yamuna Expressway, according to officials familiar with the project’s progress.
On February 27, the Yamuna Expressway Development Authority (YEIDA) handed over the land to the consortium. Officials said that Uttar Pradesh Chief Minister Yogi Adityanath is expected to lay the foundation stone for the project in March, though the exact date of the ceremony has yet to be confirmed.
The new Film City will cover 1,000 acres in Sector 21, located approximately 6 kilometers from the Noida International Airport along the Yamuna Expressway. The first phase of the development will occupy 230 acres with an estimated cost of Rs 1,510 crore.
The planned Film City will include luxury villas for actors, state-of-the-art studios, production houses, a film academy, entertainment zones, and comprehensive infrastructure designed to cater to both domestic and international filmmakers.
YEIDA CEO Arun Vir Singh stated that the project is expected to be fully completed in eight years, with the first phase set to be finished within three years.
In January 2024, Kapoor’s Bayview Projects LLP and Bhutani Group won the bid to develop the Film City by offering an 18% revenue share to the Uttar Pradesh government, surpassing other bidders such as T-Series and consortiums led by actor Akshay Kumar and producer KC Bokadia. By June 2024, YEIDA had signed a concession agreement for the project with Bayview Projects.
As per the agreement, the consortium will begin sharing revenue with the government after an eight-year moratorium period.
A key feature of the master plan for the Film City includes the construction of 15 three-bedroom villas for film stars. These villas will offer amenities like a gymnasium, private swimming pools, and dedicated spaces for personal staff, allowing actors to directly transition from their homes to film shoots on the premises.
In addition to the villas, the consortium will also develop studios, outdoor sets, and a university for training technicians as part of Phase I of the Film City project along the Yamuna Expressway.
Economic and real estate boost to the region
Experts said that the upcoming Film City will boost economic activities and business opportunities in the Yamuna Expressway area and also change the real estate dynamics in the region.
A spokesperson at BAYSIDE CORPORATIONS, a leading real estate consultancy firm, said that the upcoming Film City will bring several benefits to the region, both economically and socially.
“The development of the Film City is likely to propel demand for both residential and commercial real estate in the surrounding areas. This will result in greater property value, new residential projects, and commercial spaces catering to the growing demand from the film industry and related sectors,” the spokesperson said.
He also said that with the entry of filmmakers, artists, and entertainment industry professionals, the region will also see a rise in demand for local businesses, including hotels, restaurants, transportation services, and retail outlets.
“The development of the Film City will create thousands of direct and indirect jobs,” the spokesperson added.
