Noida: The foundation stone of the international film city will be laid in the Yamuna Authority area. The foundation stone of the film city to be built in Sector-21 is likely to be laid between 22nd and 24th June. It is also expected that Chief Minister Yogi Adityanath may come to the foundation stone laying program of the film city.
230 acres will be developed in the first phase
Arunvir Singh, CEO, Yamuna Authority says, ” The film city is proposed on 1000 acres in Sector-21. The first phase is to be developed in 230 acres. Boney Kapoor’s company Bayview Projects, along with the Bhutani Group, has taken the rights of the developer company by placing the highest bid. The allotment letter has also been issued to the company from the cabinet. The process has been going on for a long time regarding the construction of the film city.
80 crore rupees needs to be deposited
In a meeting held in Delhi recently, there was a consensus to take possession of the 230 acres of land proposed by the company. Many conditions were put before the company by the authority to start the construction of the film city. Before starting the construction, the company must deposit 80 crore rupees as a security amount with the authority. 18 per cent of the revenue from the film city will also have to be given to the Yamuna Authority.
No change in design and fixed proposals
The authority will develop other basic facilities including roads for the film city. The entire work of its design and construction will be the responsibility of the company. The company will not be able to make any changes in the design and fixed proposals of the film city. Boney Kapoor will also create a special purpose vehicle (SPV) so that the entire design and construction can be prepared as per the set rules. All MoUs have been done based on the bylaws prepared as per all these conditions.
Boney Kapoor will come to the Yamuna Authority
It is being told that the owner of the company building the film city and film producer Boney Kapoor will come to Greater Noida between 22 and 24 June. During this time, he will participate in many meetings with the authority officials. He will also go to Sector 21 to lay the foundation stone of the film city. The authority has already fenced 230 acres of land for the film city. Now there is no problem in starting construction here.