Titled "Filmy Picture", the movie will be produced by southern film producer D Suresh Babu under his banner Suresh Productions.
"Filmy Picture" was also remade in Tamil which was titled "Thamizh Padam" and was a blockbuster.
The spoofs in the Telugu and Tamil versions were on respective film industries.
"Filmy Picture" will go on floors soon after other cast gets finalized.