Anyone who found this movie even remotely entertaining has been severely handicapped by the lack of quality entertainment in their lives, and that is truly a sad state of affairs. Bhool Bhulaiyaa, the reasonably entertaining adaptation of the far better Malayalam movie "Manichitrathazhu", was a good standalone movie by Bollywood standards and did not need sequels, and certainly deserved better than what it got. The first sequel, while unnecessary, at least had a moderately interesting storyline involving Tabu's character. This movie has nothing good about it, and that's heartbreaking considering the presence of two legends.
Vidya and Madhuri aren't in it long enough, or significantly enough to make a difference to the overall experience of the movie. The movie itself is far too long with the horror (let's call it that) and comedic (yeah, let's not dissect that) elements fight each other to gain an ounce of the viewer's interest. The story is trite, extremely basic and reliant on unbelievable and idiotic progressions and character moments that would seem out of place in a kid's animation from the 2000s. The twist is reliant on a very tired cliché that does not hold up, the pacing is laughably bad, the "comedy" is unfortunately not laughable at all, the music is forgettable and there is no purpose for the existence of this movie. The acting by the supporting cast is good but the material they are given is pure bile. Why the characters of Manjulika and Anulika exist as they are named beyond the most threadbare link to the original Bhool Bhulaiyaa is impossible to justify. The talent of Madhuri Dixit and Vidya Balan, even Dimrii, is wasted in service of a leading man with the charisma of a wet rotting leaf. He can't act, and he can't dance and yet the "twist" relies on it.
Even things that could have been excellent additions like the music and dance sequence with Madhuri and Vidya are disappointing. The song Ami Je Tomar has been beaten to death, that horse needs to be left alone and buried now. Madhuri and Vidya do their best with what they are given, and they are unquestionably the only things worth looking at in this movie.
And don't even get me started on the surprises. This is on par with the Telugu crapfest with the Chandramukhi character that I hate with a vehemence even the Tamil version doesn't get. Its success so far only speaks to the absolute low standards of Bollywood movies.
In summation, if you enjoyed it, I would recommend looking into why you don't have better taste in entertainment and why you're doing this to yourself. Madhuri and Vidya deserve better.