The project will be produced by Anand L Rai's banner Colour Yellow Productions.
Ayushmann took to Twitter to breake the news.
"Excited to announce my next. Quirky, zany & mad #ShubhMangalSaavdhan with the lovely @psbhumi. Thanks @aanandlrai @ErosNow @cypplOfficial," he tweeted along with a candid picture of him and his leading lady.
The movie, which is apparently a remake of hit Tamil romantic comedy "Kalyana Samayal Saadham," will be directed by RS Prasanna, who helmed the original.
"Here's our next.It's a very #ShubhMangalSaavdhan for @ayushmannk & I @aanandlrai it's an honour to work for you @rs_prasanna So excited," Bhumi tweeted.
The film is scheduled to hit the theatres sometime this year.
This is the third project Ayushmann and Bhumi are working on. Apart from the Sharat Katariya-directed movie, the duo also filmed a portion of film titled "Manmarziyan," but the project was reportedly shelved after the first schedule.