Vidya, 35, will play the lead in the film.
"I found the idea of a lady detective irresistible as I did the title Bobby Jasoos. I've known Dia and Sahil for many years, they're lovely people and one can sense that this will be their shared labor of love.
"That's the kind of Producers everyone hopes to have. The final clincher was the script by Sanyuktha Chawla and Director Samar Shaikh who I'm really looking forward to working with," said Vidya.
The shooting for the movie will start mid-November this year and will be ready for a summer 2014 release.
Dia and Sahil last produced 'Love Breakups Zindagi'.
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