GREATER NOIDA: The final DPR of Film City was submitted by consultant CBRE South Asia Private Limited to Yamuna Expressway Industrial Development Authority (YEIDA).
The Yamuna Authority has sent the report to the state government for approval.
While the Film City will be built on 1,000 acres at Sector 21 of YEIDA, it will entail studios, a film institute, sets, amusement park, residential, commercial and retail facilities.
The global tender for the Rs 6,000 crore project is expected to be floated around November and work to commence from December this year.
The first phase of the three phase project is expected to be ready by 2024, around the same time as the Jewar airport becomes operational.
As per the DPR details, the Film City is to be developed in 780 acres while 220 acres are kept for commercial use.
YEIDA had commissioned CBRE to prepare its feasibility report earlier this year on January 8.
The consultant CBRE studied many national and international film cities while preparing the DPR including from Ireland, USA, Japan, Singapore to Ramoji Studio in Hyderabad.
Also, the cultural and religious heritage of Mathura-Vrindavan was also studied given the heritage city planned at Raya by Yamuna Authority.
Apart from studios, sets, a film institute, the Film City will have an amusement park, hotels, restaurants, runway for shoots and film museum etc.
The Rs 6,000 cr project which is to be built on public private partnership (PPP) will also be connected by road, rail and bus routes.
“The final DPR of the Film City has been submitted by consultant CBRE South Asia Private Limited.
We have sent it to the state government for approval.
Once the financial statement is issued by the government, we will target to select the company to develop the Film City in the next six months where global tendering is expected around November and work to begin on the project by December this year,” said Arun Vir Singh, CEO YEIDA.
Consultant CBRE has proposed three models for the project – annual premium to be paid as fixed rent to authority, second is the revenue share model and third is a hybrid model which includes both annual rent and income share component.
CBRE has proposed the completion of the project by 2029 in three phases, where the first phase is expected to be ready in 2024 in time when the Jewar airport is expected to become operational.
As per projections of the report, the Film City could attract close to 3 lakh people in the first year of its launch and can generate revenues of up to Rs 25,000 crore in its initial launch period.