Greater Noida: The dream of building a film city in Gautam Buddha Nagar, Uttar Pradesh is soon going to become a reality. Producer-director Boney Kapoor and Bhutani Group will together create a film city in Jewar. Financial bids for this project were opened on Tuesday, in which Bayview Projects LLP, the joint venture of Boney Kapoor and Bhutani Group, won the project by making the highest bid. The company had bid with 18 percent gross revenue share. Actor Akshay Kumar was also involved in the bidding for the project.
According to YIDA CEO Arunveer Singh, the meaning of revenue share is that whatever income the company earns after the construction of the Film City, it will give 18 percent to the authority. Apart from land, other infrastructure will be provided to it by the authority. The company will have to develop all the construction and facilities inside the Film City itself.
The successful bid of 18 percent was made by Boney Kapoor and Bhutani Group’s Bayview Projects LLP. Whereas 4 Lions Films Pvt. Ltd. 15.12%, Supersonic Technobuild Pvt. Ltd. 10.80% and Super Cassettes Industries Pvt. Ltd had bid at 5.27%. The developer company has to invest Rs 1510 crore in this entire project. The company will get a license for 90 years and will not have to pay a single rupee for eight years. After this he will have to give 18 percent of the total profit to Yamuna Authority. Film City will be constructed on 155 acres. Mall, hotel etc. will be built on 75 acres of land.
Letter of award will be received after cabinet approval
The tender has been submitted by Bayview Projects LLP in consortium with 2 other firms. Bayview Projects LLP holds 48% stake in the consortium and its role is operational and maintenance. Parmesh Construction Company Limited has 26% shares. His role will be financial. The owners of this company are Prem Bhutani and Ashish Bhutani. Similarly, the remaining 26% shares are in Noida Cyberpark Pvt. Ltd. Is of. She will provide technical support. As per PPP guidelines, the financial bids of the institutions will be placed before the Committee of Secretariat along with the recommendation of the PPPBEC Committee. After whose recommendation is approved by the Cabinet, a Letter of Award will be issued to the successful bidder.
Representatives of the four companies participating in the International Film City project of Yamuna Expressway Industrial Development Authority (YIDA) had given a presentation. The companies had given information on their vision, concept, timeline, highlights regarding the development of the Film City project. All four companies were found technically qualified and were sent for financial bids. Boney Kapoor, Ashish Bhutani, CEO Bhutani Infra, Ashwini Chatlen and Ali Chatlen, Rajeev Arora, Arvind Kumar Binny gave a presentation on behalf of Bayview Projects LLP. 4 Lions Films Pvt. Ltd. On behalf of KC Bokadia, Supersonic Technobuild Pvt. Ltd. On behalf of film actor Akshay Kumar, Dinesh Vijan Maddock Films and Super Cassettes Industries Pvt. Ltd. Presentation given by (T Series).
Yamuna City has reached number one in the entire Uttar Pradesh in terms of investment. Apart from Noida International Airport, the country’s biggest film city is going to be built in Jewar. Preparations regarding this are going on at a fast pace. Uttar Pradesh Chief Minister Yogi Adityanath has given instructions to launch the Film City project in the next 6 months. Film City is proposed to be constructed in Sector-21 of Yamuna City. This film city will be built on one thousand acres of land. In the first phase, Film City will be developed on 230 acres of land. According to Yamuna Development Authority (YIDA) officials, the company which will build the film city in the first phase will be given priority in the second phase also.