The implementation of Suraksha group s resolution plan would come as a major relief for more than 20,000 homebuyers who have invested in Jaypee Infratech projects.
The YEIDA in its board meeting earlier this week approved the detailed project report (DPR) prepared by real-estate consultant CBRE South Asia Pvt Ltd. This is the first significant step for the project ahead of approval from the Cabinet and inviting bids.
Backed by ace filmmaker Boney Kapoor, Bayview Projects, clinched the deal by offering the highest revenue share of 18 per cent to the state government for the Film City project in Noida, according to the Yamuna Expressway Industrial Development Authority (YEIDA).The film city will be built in over 1,000 acres (230 acres in the first phase) in Sector 21 of YEIDA along the Yamuna Expressway. , Delhi News, Times Now
Real estate consultants CBRE, which had prepared a detailed project report, had proposed that the project be completed in three phases, with the first phase to be developed on 230 acres. The entire project should be completed by 2028-29.