Confirming the news, Ghosh said the project is on and Shahid is indeed making changes in his physical appearance.
'Post his 'Jab We Met' success, Shahid has become extremely choosy and aims to do only one film at a time. That is why he is taking liberty to experiment with his looks,' said a close friend of the actor.
While Ken refuses to divulge any details, sources said it is an out and out dance film which will be on the lines of a larger than life Broadway musical. The 'Jab We Met' star is all set to fly abroad to learn different dance styles as well as to work on his body.
He will sport the six-pack abs for a dance sequence that will be choreographed by a Hollywood dance specialist.
Ghosh, a music video maker, had turned filmmaker with Shahid's debut film 'Ishq Vishk' and later made 'Fida' in which Shahid and Kareena Kapoor came together for the first time.
Earlier, Shahid sported long hair for a soap detergent TV commercial in 2001.
Presently Shahid is looking forward to the release of Tips film 'Kismet Konnection' opposite Vidya Balan. Directed by Aziz Mirza, the film is set for a July 11 release.