The film will be backed by the Vishesh Films.
"I am making a horror film, it is not going to be in 3D. I can't reveal too much about the project. We would go with newer star cast for this film but we haven't decided about who (Star cast) will do the film," Vishal told PTI.
The film will go on floors from January next year.
Vishal made his directorial debut with the 2012 film, starring Kunal Khemu and Amrita Puri. The film, produced by Mukesh Bhatt, had received mixed response from the critics and at the box office last year.