noida a third attempt to find bidders for the up governments ambitious film city proposed off the yamuna expressway near the upcoming noida international airport could see several changes in the terms of the project which has not found a developer over two rounds of global tendersofficials of the yamuna expressway industrial development authority yeida which is spearheading the project heard several suggestions on making the film city proposal more viable for companies in meetings on tuesday with representatives of tseries and omaxe which has a consortium with adlabsdiscussions are planned with five more companies in the next twothree daysyeida ceo arun vir singh said the main concerns raised by tseries were related to the concession period size of land parcel and allowing filmrelated manufacturing units besides certain clauses in the concession agreement related to the internal rate of return and the golden share of the authorityin the last tender document the initial concession period was of 60 years with a provision of extending it by another 30 years singh said representatives of tseries suggested the concession period should be of 90 years they also suggested that the size of the land parcel being offered to a prospective developer should be reduced to not more than 250 acres the state is offering 370 acres in the first phase of the overall 780 acres inclusion of film equipment manufacturing units in the project plan and freedom in developing the project the company objected to the golden share clause singh saidomaxe suggested changing the land use matric of the project instead of developing film and film institute components on 780 acres and using the remaining 220 acres for commercial purposes it should be viceversa it suggested it also sought inclusion of real estate development in the project plan which the yeida ceo ruled outwe will prepare a report on the suggestions and recommendations coming in during the meetings and send it to the state government singh saidthe government is planning to build its flagship film city in three phases tenders were floated twice in november 2021 and october 2022 in the latter the government relaxed several norms related to the concession period and film production components the license period for example was increased from 40 years to 60 while ott platforms and vfx studios were allowed to set up officesan analysis of the industry response has brought several aspects of the project plan under review among them the 60year concession period the total projected capital cost of rs 7210 crore to develop the 1000 acres and competition from other states which are setting up similar projects for instance a land parcel of 900 acres has been allocated near the newly inaugurated mopa airport in goa the target internal rate of return for the developer at 17 is also seen to be low producers and film city expect it to be in the range of 1920