Directed by Neeraj Pathak, the film is an action comedy and rumour has it that the screenplay of the film is in the same lines of Raj Kumar Hirani's hit comedy series.
But Pathak has denied the rumours, saying it was Arshad's idea to create a new male-pairing with Deol.
"Arshad said since he has made a good pairing with Sanjay Dutt in the past, why couldn't he and Sunny bring on a new association?
"'Bhaiyaaji Superhit' isn't exactly on the lines of 'Munnabhai' series but it has ample moments that would demonstrate good chemistry between a veteran like Sunny as well as Arshad who has been around for a decade and a half now. It is going to be magic for sure"," Neeraj told PTI.
Arshad will be seen playing the character of a filmmaker and Neeraj said the 44-year-old actor was the first choice for the role.
"I was convinced that Arshad was the only actor who could play this role. It is tailor-made for him.
Even though Arshad and I haven't worked together, we share a great equation. The moment I narrated the script to him he realised that there were some excellent sequences that he would share with Sunny."
The filmmaker, who started his career two years ago with Deol starrer "Right Yaaa Wrong", said selecting actors that suit the script is very important.
"Since I am a writer first, I personally feel character detailing has to be perfect and the pacing just right.
Moreover, to compliment that, you need to have actors who come with the best comic timing.
"I see that in my actors. When you have this combination in place, the script has to be designed in such a way that it never becomes boring when translated on screen," he said.
The film, which also stars Ameesha Patel and Tusshar Kapoor, it will release early next year.