Here is what you must know about the proposed film city along Yamuna Expressway in Noida

Uttar Pradesh government’s recent announcement about the construction of a Film City on a 100-acre plot along the Yamuna Expressway has sent ripples in the real estate industry. The experts have gone into overdrive trying to ascertain how it would boost the real estate industry in the area.

Proposed Film City location – the first USP of the Project

The location of the film city is just about 6 kilometres from the proposed Jewar Airport (expected to be functional by 2023) and hardly an hour’s drive from Delhi. Film city is proposed to be set in sector 21 which is along the Yamuna Expressway inNoida.The project has also earmarked 220 acres of land for commercial activity.

The site of the proposed film city also falls close to the proposed logistics hub in Noida – a dry port and freight corridor – that would facilitate transport facilities and movement. An international electronics city as well as a global financial hub is also proposed in the region which makes the project truly attractive.

Boon for Noida & Greater Noida regions

The strategic location of the site that falls close to the upcoming Jewar airport, Delhi and even Mathura, will leave a positive impact on the office space market of Noida and Greater Noida as it will attract numerous movie production houses and associated companies.

It would be interesting to note that Noida’s real estate market, for the last couple of years, has been witness to a spurt in office leasing. As per a recent industry report it has even surpassed Gurugram for the first time.

Expert’s Opinion

The experts are of the view that like any other mega infrastructure project, the proposed film city would also give a boost to the property market in the adjoining areas like Noida, Greater Noida, and Yamuna Expressway. However, they also add a word of caution that the real benefit regarding price appreciation and heightened real estate activity in residential, commercial and retail can be witnessed only once the project nears completion.

A Long-Term Option  

There can be no denying the fact that the proposed film city development in Noida offers a long-term opportunity for the real estate sector. The area has the potential to fetch attractive rentals once the facilities here get up and running. Flats, particularly those falling in smaller categories like studio apartments as well as hotels and high-street formats are expected to do well in this area but over four to five years provided the project takes off as planned.