Dutt was with the chief minister for over an hour and later told reporters that the project was still at the proposal stage.
The chief minister is reported to have suggested Kutch as the location for the proposed film city.
Dutt said no final decision has been taken about either the location or the investment.
Gujarat is emerging as a hot destination for Bollywood players as actors Shatrughan Sinha, Anupam Kher, Raveena Tandon and Paresh Raval have also met the chief minister in connection with film-related projects.