The actress, who has previously played RJ in 2006 film "Lage Raho Munna Bhai," will play the lead, Sulochana, fondly known as Sulu.
"Sulu is like that nimbu... You add nimbu for taste or then add it to balance taste; zesty & versatile! I think she'll unleash my naughty side," Vidya said in a statement.
The project is produced by Ellipsis Entertainment and T-Series, who also made the announcement on Twitter.
"#TumhariSulu, a dra-medy with @vidya_balan. Shoot begins April 2017. Producers @TSeries @EllipsisEntt," the post read.
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The film will be directed by Suresh Triveni. This will be Triveni's first full-length feature film. He has so far helmed three short movies, including "Conditions Apply", "Dedh Footiya" and "My Daddy Strongest".
"Tumhari Sulu has been handcrafted for Vidya (Balan) and to have her as a lead in my first feature is an honour. I look forward to seeing the story come alive as I have lived with it for almost a year now.
The project will go on floors in April 2017.