Rahul, who became a household name after his stint in Bigg Boss 2, signed on the dotted line two days ago.
The prospective brides will be introduced to the media next week.
The show is likely to go on air in December.
Son of late BJP leader Pramod Mahajan, Rahul was married to Shweta Mahajan, whom he dated for a year. Unfortunately, the marriage lasted 15 months only. Shweta filed for divorce in 2007.
NDTV Imagine hopes to cash in on Rahul's fame, post Bigg Boss. The channel heads feel he can do wonders for the show, just like Rakhi did.