The filmmaker revealed that whoever was offered the role would have to pull off a tapori - or rowdy character - in the project.
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"The heroine is the most speculated feature of our film right now and even I don't know who she's going to be. But I am not unduly worried," Farah told The Hindu.
The director is currently promoting her 2007 release Om Shanti Om, which recently premiered in Tokyo and is scheduled to open the Indian Film Festival of Melbourne later this year.
"For Om Shanti Om, we got our villain Arjun [Rampal] days after we started shooting for it. He wasn't sure of pulling off a negative role. But that turned out to be the turning point of his career. For my next film I want someone 'desi' who can be a very tapori Indian girl," she said.
The film sees the two Khans reuniting together after Om Shanti Om and Main Hoon Na.
Actors John Abraham and Prithviraj have been linked to appear in the film alongside Shah Rukh Khan.
Photo gallery - Shah Rukh Khan's career in pictures:
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