Film City to be developed with hybrid model, govt approves DPR
Ten News Network
A major milestone on the construction of the film city project was achieved on Wednesday as the Uttar Pradesh government put its seal on the detailed project report (DPR) proposal to go for a hybrid model of its development in Greater Noida, said senior government officials.
The model will see the Yamuna Expressway Industrial Development Authority (YEIDA) hold equity in the project through its contribution of nearly 1,000 acres of land in Sector 21 of Gautam Budh Nagar, while the concessionaire, that will develop and run the Film City, will pay the state government Rs 100 crore-a-year after a 10-year moratorium and offer a share of its revenue to the YEIDA, said the officials.
The much-publicised Film City that will come up along the 165-km Yamuna Expressway. The project will encourage all phases of film production and offer various amusements to the public.
The government has suggested that the project be developed in two phases, while the Yeida will provide all amenities and infrastructure.
According to the estimates prepared by the consultant, more than ₹6,500 crore will be required to develop the first phase of the project.
