Khan, who made his acting debut in Remo's "ABCD: Anybody Can Dance", says the new film will be India's first ballroom dance movie.
"We have started rehearsals for it. It is definitely happening but I don't know when is it going on floors as Remo is currently busy with 'Flying Jatt' and that is getting pushed," Khan told PTI.
"We have great songs in the film, everything is fantastic. I will be actively involved with the choreography. It will be India's first Ballroom Dance movie but we have not locked the title yet," he added.
"I am super excited. It has been a very different experience. I too had performed as a contestant and I know the hunger to win, the pain, hard work and dedication that is put behind it."
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"They are college students so they may not be technically that polished but here it is my job to point out their flaws and offer criticism that will make them better dancers."
Post his "Dance India Dance" win in 2009, Khan appeared in the title song of "Wanted" opposite superstar Salman Khan.
"I have evolved over the years and the experience has been amazing. The amount of success I have received now has made me realised that I have gained immense confidence. When I recently performed at an award show in front of Amitabh Bachchan and other stars, I did it very easily.
It is because of this confidence and to imbibe energy from the contestants that Khan took up the show as a judge.
"Their (contestants) confidence is amazing, in fact they are more confident than we ever were at their age. One of the reason why I said yes to the show was because I wanted to imbibe their energy."