The project will be produced by filmmaker Anand L Rai, of "Tanu Weds Manu Returns" fame and helmed by Sameer Sharma, who made his directorial debut with "Luv Shuv Tey Chicken Khurana".
Bhumi, who made her debut with the romantic-comedy opposite Khurrana, said she was excited for her second outing.
"Yes I am doing the film. It is directed by Sameer Sharma and produced by Anand L Rai. I will be acting with Ayushmaan who is a brilliant actor. We share a great chemistry. I am really, really excited for it," Bhumi told PTI.
"It will be tougher for me this time as I have changed. But it is exactly the role I was wanting to do for my second film. It is a wonderful script and just the right one to do."
Commenting on whether the film will be on the lines of her hit debut movie, Bhumi said, "It is a love story set in Punjab. It won't be like 'Dum Laga ke Haisha' but as beautiful as that film. We are planning to begin shooting sometime in January next year."