Yes, it probably is. Given the word 'bhoot' which means ghost in Hindi, and the fact that it's often associated with the supernatural, it's very likely to be a horror story. Horror stories usually involve elements like ghosts, haunted places, and things that go bump in the night, and this 'bhoot part one real story' seems to fit that bill.
The scariest part could be when the dinosaur suddenly appears out of nowhere. For example, in a story where a group of hikers are walking through a forest that used to be a pre - historic site. They think they are safe, but then a velociraptor jumps out from the bushes right in front of them. There is no warning, just sudden danger.
In a friends horror story, the sudden disappearance of one of the friends can be the scariest. It leaves the others in a state of confusion and fear, not knowing what has happened. And as they search for their missing friend, they encounter more and more terrifying things, like strange noises or signs that something really bad has happened to their friend.
The scariest part could be when the piano starts to play on its own. Imagine you are alone in a dark room and suddenly the piano keys start moving and a strange melody fills the air. It gives a feeling that there is an unseen entity present and it's using the piano to make its presence known.
The lack of respect for personal space is the worst. For example, if a roommate constantly barges into your room without knocking or uses your personal items without permission.
Perhaps the scariest part is when the saffron, which is usually associated with beauty and luxury, turns into a source of danger. Like in a story where saffron powder is used in a voodoo - like ritual against someone. The person starts to have hallucinations and feel a strange presence every time they are near saffron, which was once a normal and pleasant thing in their life.
I don't have the exact date for you. But typically, these things are dependent on production schedules and various other factors. Check the show's official social media accounts for the latest updates.