Akshay Kumar, Boney Kapoor’s firms and T-Series qualify for final round of bid for the development of Film City near Noida; Boney Kapoor’s Bayview wins bid
On January 18, Bollywood Hungama reported that as per The Economic Times, Akshay Kumar’s Cape of Good Films LLP, T-Series, Maddock Films, Boney Kapoor’s Bayview Projects LLP and K C Bokadia’s Lions Films Private Limited have submitted bids for the development of phase-1 of the Film City. The bids were submitted after the Yamuna Expressway Industrial Development Authority (YEIDA)’s invitation. Meanwhile, another article, published in the Times of India stated that Maddock Films, Cape of Good Films LLP, and others have formed a consortium, Supersonic Technobuild Private Limited, to execute the project.
There was a fresh update on this front very recently. It has come to light that Boney Kapoor’s Bayview Projects LLP emerged as the highest bidder for the ambitious project. The company, as per reports, is a joint venture between Boney Kapoor, Parmesh Construction Company Limited (Bhutani Group) and Noida Cyberpark Private Limited.
Some days ago, a report in The Indian Express stated that on Saturday, January 27, Bayview Projects LLP, Lions Films Private Limited, Supersonic Technobuild Private Limited and T-Series made presentations for the project and were technically qualified for the final stage of the selection process. As per YEIDA, the companies specially focussed on their vision for the Film City, concept, timeline for the completion of the project etc.
Pictures on the internet show Boney Kapoor present at the meeting while Akshay Kumar was a part of it virtually.
Another article in The Indian Express stated that Bayview Projects LLP agreed to provide YEIDA with an 18% gross revenue share, which was the highest offer among all the bidders. Lions Films Private Limited offered a gross revenue share of 15.12% while Supersonic Technobuild Private Limited and T-Series offered a revenue share of 10.80% and 5.27% respectively.
The Film City, which will entail an investment of Rs. 10,000 crores, will be constructed on a land of 1,000 acres and the first phase comprises 230 acres. The 1,000-acre site includes 740 acres for filming, 40 acres for film institutes, 120 acres for an amusement park and retail, and the balance 100 acres for commercial use. It also mentions that media industry offices, theme park, hotel, retail stores and an F&B hub will also be housed in the Film City.
Rajiv Arora, general manager and chief financial officer of Boney Kapoor’s firm Bayview, was quoted in an article in the Hindustan Times saying, “We will start work at the site as soon as the government hands over the 230 acres. We have already prepared our detailed strategy. We will invest Rs. 1,500 crores in this project and develop it in a manner so that we can provide everything related to films like artists, technology and studios. One can make an entire film under one roof with ease here once it is developed.”
The post Akshay Kumar, Boney Kapoor’s firms and T-Series qualify for final round of bid for the development of Film City near Noida; Boney Kapoor’s Bayview wins bid appeared first on Bollywood Hungama.
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