While not much is known about the storyline apart from the fact that the actors play college students, the latest buzz is that the film is structured closely on the lines of Karan's directorial debut Kuch Kuch Hota Hai.
A source told Asian Age: "It is the same situation with Tiger playing the cool dude collegian with two girls running after him."
The report further said that Tara would apparently play the campus hottie like Rani Mukerji while Ananya would essay the role of Tiger's friend like Kajol in Kuch Kuch Hota Hai.
When asked if Student Of The Year 2 is an official remake of Kuch Kuch Hota Hai, the source said: "No, just that the three main characters in Student Of The Year 2 are a homage to Shah Rukh Khan, Rani Mukherjee and Kajol in Kuch Kuch Hota Hai."
The shooting of SOTY 2 is currently going on in Dehradun and some pictures of Tiger, Ananya and Tara from the sets have surfaced online.
Meanwhile, there were reports that Karan, who is producing the film, has reportedly tweaked the script with the help of director Punit Malhotra.
The changes were made after the success of Tiger's latest film Baaghi 2 proved that the hunk is best when it comes to action films.
Keeping Tiger's strength in mind, the producer-director duo of SOTY 2 had reportedly included many fight sequences in the otherwise light-hearted movie that had dance and romance as key elements.