Directed by Sircar, the Rising Sun Films production was earlier expected to release in November 2019.
"Ab #GulaboSitabo ki jodi aarahi hai April 24, 2020 ko (now Gulabo Sitabo's pair will arrive on April 24, 2020)," read a tweet posted by Rising Sun Films' handle on Friday.
The family comedy is set in Lucknow.
Written by Sircar's frequent collaborator Juhi Chaturvedi of "Vicky Donor", "Piku" and "October" fame, "Gulabo Sitabo" will be produced by Ronnie Lahiri and Sheel Kumar.
Sircar had said in a statement: "Me and Juhi have been working on this script for quite some time...and as we all know, when Juhi comes up with a story it has her trademark quirk in it.
"As soon as I read it, I was extremely excited and shared it with Ronnie, my dear friend and producer and to both Mr Bachchan and Ayushmann at the same time," he added.
Sircar thought it would take some time to develop and proceed.
"But everyone including the duo were so enthusiastic to do this script, that they figured their dates and here we are, planning to release it this year," said the director.
"After 'Piku" and 'Vicky Donor', I had been wanting to work with Mr Bachchan and Ayushmann on an equally quirky script so this fell perfectly in place."
As for the film's title, he shared that the story is based in Lucknow, and "Gulabo Sitabo is a fun colloquial metaphor used by the locals...as to it's connect to the story, wait and watch the film to know more".
( With inputs from IANS )