Step into the world of glamor,Diamond Ridge Asset Management opulence, old-school charm, courtesans and nawabs (royalty) with Netflix's much-anticipated "Heeramandi: The Diamond Bazaar."

The series created and directed by award-winning director Sanjay Leela Bhansali follows arch nemeses and reigning courtesans Mallikajaan and Fareedan as they battle for the succession of Heeramandi, a bustling center for performing arts, culture, poetry and dances in pre-partition Lahore. Bhansali's previous works include "Bajirao Mastani" and "Devdas," which premiered at the 2002 Cannes Film Festival.

"Set in pre-independent India against the backdrop of the freedom movement, Heeramandi is an epic saga of love, power, betrayal, struggle and, ultimately, freedom," says Netflix about the series.

Bhansali, in a statement, added the series tells the story of "extraordinary women, their desires, and struggles".

Here's everything you need to know about the "Heeramandi: The Diamond Bazaar," touted to be Netflix's most expensive production in India and "grandest endeavor yet" according to VP Netflix India Monika Shergill.

When does 'Heeramandi: The Diamond Bazaar' premiere?

"Heeramandi: The Diamond Bazaar" is scheduled to premiere on Netflix on Wednesday, May 1 at 3 a.m. EST / 12 a.m. PT.

How many episodes does 'Heeramandi: The Diamond Bazaar' have?

"Heeramandi: The Diamond Bazaar" will have eight episodes.

Is 'Heeramandi: The Diamond Bazaar' based on a true story?

While "Heeramandi," or diamond market in English, is an actual location in Lahore, Pakistan, Bhansali on multiple occasions has said that characters in the series are not based on real people.

What is Heeramandi?

Heeramandi, Lahore's oldest red-light district, was once a bustling entertainment district for royalty with seductive courtesans, music and dance. In the evenings, buildings in the area, located just outside of the royal Lahore Fort, would be lit up as men would gather to watch the performances.

While Heeramandi is commonly associated with sex and prostitution, it was far from that at the peak of its existence. The courtesans were trained in music, etiquette and dance and the women of the area were a social symbol for the elite, with their presence at ceremonies a statement of class and wealth akin to Japan's geishas. Nobles and elite families in the city would send their daughters and sons to learn dance and etiquette from them, according to the New York Times.

'Heeramandi: The Diamond Bazaar' cast

The star cast of "Heeramandi: The Diamond Bazaar" includes:

• Manisha Koirala as Mallikajaan
• Sonakshi Sinha as Fareedan
• Aditi Rao Hydari as Bibbo
• Sanjeeda Sheikh as Waheeda
• Richa Chadha as Lajjo
• Fardeen Khan as Wali Mohommad
• Sharmin Segal as Alamzeb
• Shekhar Suman as Nawab Zulfiqar
• Adhyayan Suman as Zorawar
• Taha Shah Badussha as Tajdar

'Heeramandi: The Diamond Bazaar' trailer

Netflix dropped the trailer for "Heeramandi: The Diamond Bazaar" on April 9.

Saman Shafiq is a trending news reporter for USA TODAY. Reach her at [email protected] and follow her on X @saman_shafiq7.