The song, titled "Apna Bombay talkies" has been choreographed by Vaibhavi Merchant.
Others to be featured on the song are Priyanka Chopra, Farhan Akhtar, Shahid Kapoor, Ranveer Singh, Ranbir Kapoor, Imran Khan, Sonam Kapoor and Deepika Padukone, Anil Kapoor, Sridevi, Akshay Kumar, Karisma Kapoor and Juhi Chawla.
About 20 singers have also joined to lend their voices to the actors, a source said.
"For the first time, 20 singers will be part of the same song. The song has been interpreted by some of the most respected singers in the industry. And the interesting thing is that the singers have recorded for those actors who usually make the playback singing in their films, "the source added.
Some singers who have sung the song, are Sunidhi Chauhan, Shaan, Kavita Krishnamurthy, SP Balasubramaniam, Abhijeet, Kumar Sanu, Alka Yagnik, Mohit Chauhan, Sonu Nigam, Sudesh Bhonsle, Shreya Ghosal, Shilpa Rao, Udit Narayan, KK and Sukhwinder Singh.
The source said: "Vaibhavi has beautifully choreographed this number. There was a strict dress code for all players. All men had to wear black tuxedos and women wore gold costumes designed by their own stylists. The song had more than a month to be shot entirely since all players have shot independently by its parts. "
"Bombay Talkies" is an amalgam of four short films four filmmakers - Zoya Akhtar, Anurag Kashyap, Dibaker Banerjee and Karan Johar. The film releases May 3 and will also be screened at Cannes Film Festival this year. - IANS