India Business
Parsvnath Developers tops bid for Chandigarh film city
Jan 13, 2007 - 11:29:57 AM

Chandigarh, Jan 13 - The Rs.1.91 billion - bid by Parsvnath Developers, who have tied up with noted film director and comedy actor Satish Kaushik, has topped bids for the Chandigarh Film City project to be launched here.

The Chandigarh administration had recently invited tenders for the 30-acre Film City project for a 99-year lease.

Parsvnath's bid was Rs.600 million - more than the next short-listed bidder for the project. The reserve price for the film city project was Rs.1.25 billion.

The company is likely to sign a deal with the administration for the film city project within this month.

The project would have to be completed within 36 months from the date of the agreement.

This is the second major project to boost tourism in Chandigarh.

The first one was for the setting up of an Rs.6.5 billion amusement park on the lines of international amusement parks like Sentosa Island in Singapore.

The film city project has been envisaged to attract film shooting in and around the city and will have a multimedia park of international standard at the same venue.

Administration officials said that film units were increasingly picking Chandigarh for shoots. The film city project, in which the likes of producer-director Yash Chopra and actor Anupam Kher have been associated, would help attract more film units and boost tourism in the city and this region.

Anupam Kher has separately tied up with the administration for starting an acting school here on the lines of a private institute that he runs in Mumbai.

The film city project would have digital studios, facilities for post-production processing and hi-tech facilities for animation and gaming.

Ready built space would be made available to film units and other related multimedia companies to operate from the film city.

The film city would have its own entertainment centre with multiplexes and gaming centres.

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