"This musical involves a lot of hard work and there is no scope for mistake, " Hussain told IANS in an interview.
"You can say that it is India's answer to the Opera and Moulin Rouge. It is the first of its kind where you will have a small Bollywood musical in which everyone will give live performance, " he said.
The musical "Zangoora" will also have actresses like Isha Sharvani and Gauhar Khan at the "Kingdom of Dreams" - India's first entertainment and leisure destination at Gurgaon which will be launched in the end of July.
"The Kingdom of Dreams" is owned by the Great Indian Nautanki Company, a joint venture between Wizcraft International Entertainment and Apra Group of Companies.
The official announcement about "Zangoora" was made here on the last day of the ongoing International Indian Film Academy (IIFA) awards Saturday.
Talking about his role in the musical, Hussain says that it is a very demanding job and all actors who are part of this musical are working on improving their stamina.
Before Hussain, actor Vivek Oberoi was signed as the lead actor for the musical extravaganza. Vivek opted out of the project and Hussain stepped into his shoes.
"Well, when I got a call from the organisers, I didn't know about the project, nor did I know about Vivek. So, I don't know why they signed me for the role, but all I can assure you that it is one of a lifetime opportunity, " said Hussain.
The actor said that it would be a cliche if he said he is not aiming for the tinsel town.
"Every actor wants to be in Bollywood and like all of them, it is my dream to be a part of Bollywood. But it would be a cliche to say that I want to do something different and am waiting for that dream role, " Hussain said.
"I feel what is important is to be consistent with your work and you will definitely be noticed, " he added.
The actor's popularity soared an all-time high when he won the second season of dance reality show "Nach Baliye" with his wife Tina. Ever since that, he has hosted reality shows like "Kisme Kitna Hai Dum", "Khullja Sim Sim 2", and is now hosting the third seasons of "Indian Idol" as well.