Greater Noida (News Trust of India) : – In a momentous occasion for the Indian film industry, veteran producer Boney Kapoor’s Bayview Projects has secured the coveted Letter of Award for the much-awaited International Film City in YEIDA’s Sector-21. This ambitious project marks a turning point for Indian cinema, with the potential to lure international filmmakers and position Noida as a frontrunner in Indian film production.
The first phase of the Film City will encompass a massive 230 acres. This expansive area will be meticulously zoned, with 155 acres dedicated to the industrial zone. This industrial hub will be a haven for filmmakers, boasting world-class studios equipped with cutting-edge technology, a pioneering film institute to nurture future talent, and top-tier post-production facilities that will transform raw footage into cinematic masterpieces. The remaining 75 acres will be designated for the commercial sector, featuring a vibrant mix of hospitality ventures, amusement parks, and a plethora of other entertainment facilities that cater to every whim.
As per the agreement, Bayview Projects will need to establish a dedicated Special Purpose Vehicle (SPV) within the next 45 days. This SPV will act as the legal entity responsible for overseeing the project’s development. Once the SPV is operational, a formal concession agreement will be signed with YEIDA, paving the way for construction to commence. Initial estimates suggest a staggering investment of approximately Rs 1500 crores for the first phase alone, underlining the immense scale and significance of this project.
This news has ignited a wave of excitement within the Indian film fraternity. The Noida International Film City is envisioned as a world-class facility, meticulously designed to offer filmmakers a comprehensive ecosystem where they can bring their creative visions to life. Industry experts believe this project will not only serve as a catalyst for increased film production but will also generate substantial employment opportunities and significantly contribute to the economic growth of the region.
Boney Kapoor’s involvement in the project adds a unique blend of star power and experience. With his illustrious career spanning decades, Kapoor possesses an intrinsic understanding of the Indian cinema landscape and the intricate needs and aspirations of filmmakers. His leadership and expertise are expected to be instrumental in shaping the Film City into a thriving hub for creativity and innovation, fostering a collaborative environment where aspiring and established filmmakers can flourish.
The Noida International Film City has been a long-cherished dream for the Indian film industry. With Bayview Projects at the helm, this dream is finally materializing. This development promises to usher in a new era for Indian cinema, solidifying India’s position as a global filmmaking powerhouse and etching Noida’s name on the map as a major film production center. The project holds immense potential to not only revolutionize Indian filmmaking but also serve as a cultural landmark, attracting international collaborations and showcasing the brilliance of Indian cinema to the world.
