In the first poster Shahid, 34, can be seen sitting on a bike cuddling to Alia, who lands a peck on his cheek.
The font and the design of the poster assures a fairytale romance lined up for the fans.
Shahid, who recently got married to Delhi girl Mira Rajput, took to twitter to share the poster of his first post-wedding release.
"And the Shaandaar journey begins....#Shaandaarfirstlook," he tweeted.
Pegged as the first destination wedding film of Bollywood, the movie is directed by "Queen" director Vikas Bahl.
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"AND we are up!!!!This Dussehra make it SHAANDAAR !! @shahidkapoor #ShaandaarFirstLook #SHAANDAARonDUSSEHRA"
Karan Johar, one of the producers of the film, too joined the lead pair in unveiling the first look of the much awaited film.
"And here it is!!!!! #Shaandaarfirstlook @shahidkapoor and @aliaa08 like never before!!!" he wrote.
The first trailer of the film will be released on August 11 and is also expected to be attached with Karan Malhotra's "Brothers" that stars Akshay Kumar, Sidharth Malhotra and Jacqueline Fernandez in the lead.