Released in 2011, "Chalo Dilli" was the first film from Lara's banner Bheegi Basanti Productions. She also acted in the comedy.
"I would love to work with Lara again. We had a great time working together in 'Challo Dilli'. She is superb. But it will be unfair to comment about anything before I sign my producers for my next film," said Shah, who directed "Challo Dilli".
He added: "There is a particular role in the film, which I feel she would look perfect in. Now let's wait and watch. It's too early to say anything."
Meanwhile, the director assures that his next venture is not a sequel to "Challo Dilli".
"No, my next film is not a sequel to 'Challo Dilli'. It's a fresh script. My next film falls under comedy genre. It can be called comic thriller. I am ready with my script, now waiting for the producers' nod."
"If producers sign my project in a week's time, then my film will go on the floors by the end of this year itself. So it all depends on producers now," he added.
Shah debuted as a director with 2008 movie "Dasvidaniya".