As per the preliminary report, the Film City will be developed on 1,000 acres in Sector 21 of YEIDA area and is estimated to cost Rs 6,000 crore.
To be built on the public-private-partnership model, three plans have been recommended for the project, including a hybrid model.
Once ready, the Film City will have retail, residential and commercial facilities, including hotels, studios, amusement park and a film institute.
“The DPR of the Film City project will be submitted on June 7 by consultant CBRE. After its submission on June 7, the final financial model will be approved by the government. The target is to select the company to develop the Film City in the next six months,” said Arun Vir Singh, CEO of YEIDA.
While CBRE studied the functioning of prominent studios in the US, Japan and Singapore in preparing the DPR of the project, there are provisions for retail, housing, commercial, studios, film institute, infrastructure, amusement park, hotels and restaurants in the project ranging from Rs 227 crore to 1,513 crore. These will be spread across 34 to 740 acres of land.
The Film City is a dream project of chief minister Yogi Adityanath, apart from the Jewar international airport project, both of which are being projected as the economic growth drivers of the state. The Jewar airport is chasing an April 2023 launch date.
Three models have been proposed for the Film City project. These include firstly, where the developer company will pay a fixed rent as annual premium to the Yamuna Expressway Authority every year from the fifth year of the project. For the first four years, the company will not give any money to the Authority.
The second model includes the share of the developer company and the Authority to be decided from income generated from the project.