The Film City project in Noida Sector 21 is set to have an amusement park with 60 rides, and 600 rooms to accommodate visitors and other ancillary facilities over 321 acres by the end of 2024.
The Yamuna Expressway Industrial Development Authority (YEIDA) is expected to hold a meeting with government officials next week in regards to this ambitious project. Sources said the entire Film City project will come up on 1,000 acres and will be developed in three phases by 2029.
Arun Vir Singh, YEIDA’s chief executive officer, said the most crucial part was to figure out the land requirement for various facilities and development options. “The report has given us an idea about the number of visitors who will come to Film City by 2029, the number of hotels and rooms required and what features an amusement park should have,” he said. “Without experience, deciding the product mix for such a big project is a challenge for any authority.”
Singh said a decision on all such facilities would be discussed at the meeting scheduled with the government officials. The Film City has been decided to be developed in phases so that the validity and optimum value is maintained. While the first phase will come up on 321 acres, the second and third phases will be developed over 298 and 382 acres, respectively.
CBRE, the consultant, had studied the functioning of prominent studios in the US, Japan and Singapore while preparing the developing models. The Film City, according to CBRE’s report, could attract 439 producers during the initial years of operation, and about three lakh people are expected to visit the area in the first year of its launch.
Once operational, the Film City and the amusement park can earn revenues up to Rs 25,000 crore during the initial period and Rs 30,000 crore in 2025.