Noida: YEIDA Extends Date For Applications For Investments In International Film City

The Yamuna Expressway Industrial Development Authority (YEIDA) has extended the last date of application for investments in its international film city project near Noida.

The date has been extended to 31 March 2023, from the previously set date of 28 February 2023, as per a report by MoneyControl.  

Arun Vir Singh, CEO, YEIDA, said that global companies like Sony have shown interest in the project.

The project for the film city is proposed along the Yamuna Expressway, in Sector-21 on an area of 1,000 acre.

The film city will be 6 km from the upcoming Noida International Airport in Jewar, and 12 km from the Eastern Peripheral Expressway.

The current tender for the project marks the second global tender.

The first tender was floated in November 2021, which failed to select a suitable developer because the only agency which applied for the bid did not fulfil the required terms and conditions.  

Following this, the authority and the state government decided to revise the detailed project report (DPR), reported Hindustan Times.

The DPR for the film city was prepared by Coldwell Banker Richard Ellis (CBRE). YEIDA hired the American commercial real estate services and investment firm as the consultant for the DPR in 2021.

Following the required changes, the Uttar Pradesh cabinet had approved the revised tender on 13 October 2022 — with a plan to be developed in four phases and the developer will be required to finish phase 1 of the project in four years.

The film city is intended to become an international media and entertainment hub, featuring various amenities catering to pre-production, post-production, and film tourism.

It is proposed to include studios for editing, dubbing, VFX, along with hotels, retail spaces, film festival arenas, museum, and theme park.

The state government also approved its Film Policy 2023, earlier in February — under which several types of subsidies have been provisioned.