Sources said the authority was likely to go ahead with the first option, which says that the Film City project in Sector 21 must have an amusement park with 60 rides, almost 600 rooms to house visitors and other ancillary facilities over 321 acres by the end of 2024.
The entire Film City project, which will come up on 1,000 acres, will be developed in three phases by 2029.
While preparing the developing models, the consultant — CBRE — had studied the functioning of prominent studios in the US, Japan and Singapore.
Moreover, the number of visitors in popular studios and film cities of the country were also taken into account while preparing the suggestions for the project.
Moreover, the report also mentions the number of films, TV series and over-the-top media services that were produced in the past few years.
The demand and occupancy ratio was calculated after interactions with executives of Mumbai Film City, Ramoji Film City, Mehboob Studios and Kamal Amrohi studio.
YEIDA’s chief executive officer, Arun Vir Singh, 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. Without experience, deciding the product mix for such a big project is a challenge for any authority,” said Singh.
He added that a decision on all such facilities would be discussed at the meeting scheduled with government officials.
It was decided to develop the Film City project in phases so that the viability 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.
According to CBRE’s report, the Film City could attract 439 producers during the initial years of operation. Close to 3 lakh people are expected to visit the area in the first year of its launch.
Once operational, the Film City and amusement park can together earn revenues of up to Rs 25,000 crore during the initial period and Rs 30,000 crore in 2025.