Bayview Projects, backed by filmmaker Boney Kapoor and real estate developer Bhutani Group, on Tuesday bagged a contract to develop the International Film City near the upcoming Noida International Airport in Uttar Pradesh, according to officials.
The financial bid for the greenfield project was opened on Tuesday afternoon by the Yamuna Expressway Industrial Development Authority (YEIDA), which functions under the Uttar Pradesh government.
“M/s Bayview Projects LLP (Boney Kapoor and Bhutani Group) will develop the International Film City in the Yamuna Expressway area after making the highest bid for the Film City,” YEIDA said in a brief statement.
The selection of the concessionaire although remains to be approved by the state government before land is allotted to it for the development of the project, according to an official.
Bayview Projects was competing against Super Cassettes Industries Private Limited (T-series), Supersonic Technobuild Private Limited (backed by film star Akshay Kumar, Maddock Films, and others), and 4 Lions Films Private Limited (backed by filmmaker KC Bokadia and others) to develop the film city, considered a pet project of Uttar Pradesh Chief Minister Yogi Adityanath.
The Film City is to be built in a public-private partnership and is envisaged in over 1,000 acres (230 acres in the first phase) of land along the Yamuna Expressway near Noida.