"It's a script called 'Delhi 6' - that's the postal pin-code for (the place) where I spent my childhood. I have all my relatives, friends and memories in Chandni Chowk. This is a film that I have to make," says Mehra.
Delving into one's past isn't uncommon to Bollywood filmmakers.
Farhan Akhtar borrowed heavy chunks of his camaraderie with college friends to make "Dil Chahta Hai". Many of Shah Rukh Khan's scenes with his screen father in "Devdas" were taken from director Sanjay Leela Bhansali's own childhood.
And in "My Brother Nikhil" debutant director Onirban dug deep into his subconscious for inspiration.
Even in an out-and-out fantasy fare like "Kabhi Khushi Kabhie Gham", the character of the overweight brat Laddoo was modelled on Karan Johar's own battle with lard.
"It's not uncommon for filmmakers to return to their roots through their work. I won't say 'Delhi 6' will be autobiographical. It will give me a chance to relive my childhood," says Mehra.
Mehra intends to shoot on location in Delhi. The cast is yet to be finalised. "But I won't be casting myself, that's for sure," says the "Rang De Basanti" director.
About his plans of re-releasing his first film "Aks", Mehra says: "I am not re-shooting 'Aks' at all. What I intend to do right after 'Rang De Basanti' is to do a 'director's cut' version of 'Aks' on DVD. It is the done thing in Hollywood for directors to re-edit the film after release in a more luxuriant and spacious footage.
"I'm not re-shooting the film, only using the existent footage that I couldn't in the large-screen version."