"Am very excited about this new horror film I am starting..its title is.. "BHHOOoo.! This will be 'BHOOT 2'," Varma posted on his Twitter account.
Explaining the title, he said: "'BHHOOoo' comes from that its the most commonly uttered sound by us as kids when we want to scare the daylights out of anyone.
"But when that sound BHHOOo we utter as kids is used in a adult horror film context, it completely changes in its intention nd intensity," he said.
Varma made his debut in horror genre with "Raat" (1992), then he made supernatural thriller "Bhoot" (2003), "Phoonk" (2008) and its sequel "Phoonk 2" (2010).
"'BHHOOoo's tag line is going to be......if 'Bhoot' scared you 'BHHOOoo' will kill you."
"So after my 'RAAT', 'BHOOT' and 'PHOONK' just get ready fr the mother of all of them 'BHHOOoo' the film in the realm of 'BHOOT 2'," he posted.