The 30-year-old actor made his Hindi film debut with Anand L Rai's 'Raanjhanaa' last year and earned accolades for playing a boy from Banaras.
"En route to Goa for Balki's film shoot and 'VIP' background score," Dhanush posted on Twitter.
Megastar Amitabh Bachchan, who has previously worked with Balki in 'Cheeni Kum' and 'Paa', has a prominent role in the forthcoming film.
Besides Bachchan and Dhanush, the untitled film will also star Tamil superstar Kamal Haasan's younger daughter Akshara, who is making her Bollywood debut with the movie.