The Uttar Pradesh government is likely to lay the foundation stone of its ambitious International Film City project soon after the Lok Sabha elections.
According to sources, the foundation stone of the project is likely to be laid by the end of June 2024 after the general elections. Lok Sabha elections are commencing countrywide from April 19 and will go on till June 1. The results of the election will be announced on June 4, 2024.
The approval for the film city project was given by the UP government in a cabinet meeting in March this year and later that month the award letter of the project was also issued for the concessionaire by the government.
A consortium led by Bollywood filmmaker Boney Kapoor’s firm, Baywatch Projects LLP, in association with Noida-based developer Bhutani Infra will develop the Film City project near Noida International Airport along the Yamuna Expressway. The first phase of the project will be built on 230 acres of land.
“The foundation stone of the project was to be laid by UP CM Yogi Adityanath in March 2024 before the model code of conduct but it could not happen. So the state government is now likely to lay the foundation stone of the project in June 2024, soon after the Lok Sabha elections. Officials of the state government in Lucknow as well as of YEIDA (Yamuna Expressway Industrial Development Authority) have also been asked to start preparations in this connection,” sources told Moneycontrol.
He said that the work on the ground is likely to start soon after the foundation stone laying.
UP Chief Minister Yogi Adityanath’s ambitious International Film City will be developed in Sector 21 along the Yamuna Expressway near Noida International Airport. YEIDA is helming the project and it has also allotted land to the consortium in sector 21 where construction work will be started.
Use of solar energy
Sources also the use of solar energy is being considered for electricity. According to the master plan of the film city, all the studios in the film city will run on solar systems that will be installed on the rooftops of studios, sources said.
They said that in a recent presentation, the company also informed officials that the International Film City will be developed by dividing it into seven zones in Sector-21 near Noida Airport and it is also likely to have a signature tower in the film city.
The financial bids for the film city project were opened on January 30, 2024 at the YEIDA office where Boney Kapoor’s Bayview Projects LLP in association with Bhutani Infra had emerged as the highest bidder for the project.
Out of 230 acres of land, 155 acres will be dedicated for industrial use and the remaining 75 acres for commercial use. The industrial aspect of the project will comprise the development of film studios, a film institute, post-production facilities, and other film-related developments, while the commercial part will include activities such as hospitality projects and amusement parks, among others.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
