Boney Kapoor's Real Estate firm receives Government nod for a new Film City in Jewar

The Uttar Pradesh government has forwarded the “letter of award” for the construction, maintenance and operation of the International Film City project to the consortium led by Bollywood filmmaker Boney Kapoor’s firm Baywatch Projects LLP. 

The officials said that, the work will start in few months. UP Chief Minister Yogi Adityanath started the ambitious project of International Film City in Jewar, which will be developed in sector 21 along the Yamuna Expressway near Noida International Airport.

The officials of Yamuna Expressway Industrial Development Authority (YEIDA), which is handling the project, has allotted land to the consortium in sector 21 where construction work will be started. 

A senior official of YEIDA said, “The award letter for the film city project was approved by the UP Cabinet in the first week of March and it was handed over to the Boney Kapoor’s Baywatch Projects LLP led consortium last week by Uttar Pradesh Chief Minister Yogi Adityanath. The company will be responsible for the construction, operation and maintenance of the film city.”

He further said that, after the award of the letter, a special purpose vehicle for entering into the concession agreement with YEIDA to develop the project. The concession agreement will need to be executed in 45 days of the acknowledgement of the receipt of the letter of intent.

Bayview Projects LLP will develop the first phase of the 1,000-acre project that is being established on 230 acres, joining hands with Noida-based developer Bhutani Infra.

Out of the vast 230 acre of land 155 acres will be dedicated for industrial use and the remaining 75 for commercial use. The industrial aspect of the project will comprise the development of film studios, a film institute, post-production facilities, and other film-related developments, and the commercial part will include activities such as hospitality projects, and amusement parks, among others.

The primary investment of the project for the first phase of the project is nearly Rs. 1,500 crore. The officials said that the concession period for the project is 90 years.

A consortium of Maddock Films and Cape of Good Films LLP, music company T-Series, and film production firms of Bollywood filmmaker KC Bokadia had also appealed for the development of the Film City but Boney Kapoor’s company had won the bid for the film city project with an 18% revenue share.