"She is a fabulous actress, and is very enthusiastic about her work. I can't think of anyone else other than Bipasha for my film. She is perfect," he added.
Bhatt has earlier directed Bipasha in films like Aetbaar and Footpath.
Asked if he considers Bipasha as his lucky charm, he said: "Nothing as such. I don't think (of her as) lucky charm, but she is definitely one actress who has evolved over the years and has proved herself."
Bhatt says the film will go on floors next year.
"It is a very special film for me. I can't talk much about the film, but it will go on floors in May 2013. It is a very interesting story," he said.
Bhatt has entered into a partnership with Bhushan Kumar's T-Series to produce five films that includes science-fiction, thriller and horror genre, among others.