The movie is called 'Peter Gaya Kaam Se' and is being directed by John Owen, an India based British filmmaker. It's being produced by UTV's production house Spotboy.
The actor is apparently paired opposite model turned actress Mugdha Godse who also received acclaim for her role in Madhur Bhandarkar's 'Fashion'.
The makers of the film apparently were hunting for a heroine for a long time and Mugdha caught their eye, thanks to 'Fashion'.
This delayed the project from August to November.
'Peter Gaya Kaam Se' is said to be a love story set in Goa. The film will see Khandelwal, as Peter a bike rider and sultry Mugdha as a tourist.
Very interestingly Rajiv's former girlfriend Aamna Sharif has also ventured into the movies. She and her current boyfriend Aftab Shivdasani will be seen together in 'Aloo Chaat'.
Aftab also plans to produce another film 'Sab Se Peeche Hum Khade' with the two of them together. Director Glenn Barretto of the Glenn Ankush duo has already shot portions of the film.
The movie is reportedly inspired by Tom Hanks' 'Big'.
Wonder if there will be a battle of the exes at the box office soon!