The Yamuna Expressway Film City project, announced in September 2020, has now entered a decisive phase, with the Yamuna Expressway Industrial Development Authority (YEIDA) inviting tenders to appoint an engineering agency and chartered accountancy firms for project monitoring.
The development marks a significant step forward in establishing one of India’s most ambitious entertainment and media infrastructure hubs along the Yamuna Expressway corridor in Uttar Pradesh. The project is set for completion by June 2028.
The government, along with private players, plans to develop hotels, convention centres, and entertainment facilities around the Film City. By attracting both domestic and international visitors, this initiative is poised to boost film tourism and drive growth across local businesses, the hospitality sector, and the broader service sector.
International Film City 21, Noida
The YEIDA Film City project in Sector 21, Noida, is one of India’s most ambitious entertainment infrastructure projects, spanning over 1,000 acres along the Yamuna Expressway. The project is being developed through a public-private partnership (PPP) with the Bhutani Group at an estimated cost of ₹65,000 crore. Set to become the largest Film City in North India and a global Bollywood production hub, it will house world-class studios, VFX centres, a film institute, and an infotainment zone.
Implications for Noida’s Real Estate
This project is expected to drive commercial and residential real estate simultaneously. The project will also impact job opportunities as well as immigration in the region.
Impact on commercial real estate
- Surge in Land Prices: Sectors surrounding the Film City along the Yamuna Expressway are already witnessing a sharp appreciation in land and property values, driven by speculative and end-use demand.
- Demand for Office & Studio Spaces: The project is expected to attract production houses, media firms, OTT platforms, and broadcasting companies, fuelling demand for Grade-A commercial office spaces in the vicinity.
- Retail & Hospitality Boom: A workforce of over 1.5 lakh professionals will generate significant demand for retail centres, hotels, serviced apartments, and food & beverage spaces nearby.
Earlier, the Jewar Airport project was met with relatively low expectations in terms of its impact on the region’s real estate. However, once it neared completion and became a reality, land and property prices in the surrounding areas surged, as much as 500%.
A similar trajectory can be expected with the Film City project. Given its scale, strategic location just 4 km from the airport, and the kind of economic activity it is set to generate, the development is likely to significantly increase demand and drive strong appreciation in property values across the Yamuna Expressway corridor.
Impact on residential real estate
- Residential Property Appreciation: Residential plots in the YEIDA region are currently priced far below central NCR rates, but per Square Yards analysis, the project is set to increase appreciation by 150%.
- New Residential Expansion Phase: Phase 2 of the overall development plan will entail residential expansions along with supporting civic infrastructure to boost population inflow and enhance liveability in the area.
- Planned & Balanced Urban Growth: Since the region will consist of a majority of planned and exclusive projects, recreational and green zones will be present in most areas, ensuring balanced growth.
How will it benefit investors?
The scale of the project positions Sector 21 as a potential new CBD (Central Business District) for the Greater Noida-Yamuna Expressway belt. For investors, the key factor here is getting in early.
Property prices in this region are still lower than central NCR, which leaves room for good appreciation over time, especially as the project moves closer to its 2028 completion. At the same time, rising demand for office spaces, studios, hotels, and other commercial setups is likely to create steady rental income opportunities along with long-term value growth.
