Thomas Sebastian had earlier directed the Mammootty starrer Maya Bazaar and Jamna Pyari, which had Kunchacko Boban as the hero.
Dhyan Sreenivasan scripted Goodalochana. The cast also includes Aju Varghese, Hareesh Kanaaran and Sreenath Bhasi.
Goodalochana is about a group of friends who are eager to do well in life and does certain things which takes the journey ahead in some unprecedented ways.
Akhil George is the cinematographer and Shaan Rahman is the music director.
Goodalochana will hit the screens on November 3.