This year's event will take place at the National Centre for the Performing Arts (NCPA) and 18 girls will vie for the crown, " Lara, a former Miss India, posted on her Twitter page.
"Just got off the stage rehearsing for my act for Miss India '10. Some wonderful memories, " she said.
Shahid posted: " (Will be) performing at Femina Miss India. Tomorrow should be fun with so many pretty ladies around."
Celebrities like Vivek Oberoi, Neha Dhupia and composer Salim Merchant will also make an appearance.
"Performing at NCPA for the Miss India Pageant. (Will be) doing a mix of 'O mere khuda' and 'Tere liye', " Vivek Tweeted.
Neha, who was Miss India 2002, too is excited to perform on the same stage after so many years.
"Just finished rehearsing for the Femina Miss India contest, glad to be performing on the same stage that has made me the person I am, " she wrote.
Actress Shilpa and filmmaker Anurag Basu are expected to judge the event that will see 18 girls competing for the crown.
"Will be judging Miss India... looking forward to meeting the girls, " Shilpa wrote on the microblogging site.
The 34-year-old has also thrown open a contest on Twitter. She has asked people to send her questions that can be asked -- the best question will be chosen and asked by her at the event.