Dharma Productions will co-produce the film with Phantom Production and Vinil Matthew will direct 'Hasee Toh Phasee'.
This will be Siddharth's second film with Dharma Productions after his debut movie 'Student Of The Year'.
Parineeti made her Bollywood debut with 'Ladies VS Ricky Bahl' and she was also seen in Yash Raj Films' 'Ishaqzaade'.
Photos: Shraddha Kapoor, Kim Sharma at 'Haseena Parkar' screening
Mumbai to Goa train: First look at the glass-top Vistadome coach
Shuttler Ashwini Ponnappa keeps it short and sexy on social media
Photos: Narendra Modi, others at Marshal Arjan Singh's funeral
Photos: Sussanne Khan and Nimrat Kaur spotted at a spa in Juhu