STORY - The film starts with a scene depicting many people being killed mysteriously. The film then cuts to Eashwar Prasad (Jayaram), a politician who vows to resign from his post if the government fails to recover idols which were stolen over a period of six months. This wins the hearts of the masses. It also troubles his political rivals, who forge a plan to destroy his credibility with the help of CBI joint director Vaishnavi Natarajan (Asha Sarath) and Assistant Commissioner of Police Sampath (Murali Sharma).
The two of them plan to interrogate IAS Chanchala (Anushka Shetty), a close confidante of Eashwar who is in jail for murdering her fiancé Shakthi (Unni Mukundan). To not arouse suspicion, they decide to shift her to Bhaagamathie Bungalow for the interrogation. Suddenly, a street lamp explodes, and junior policeman Lingamurthy (Dhanraj) screams. The locals are afraid of the bungalow and claim that it is haunted.
Chanchala was Secretary to Eashwar when he was Minister, and she was involved in the implementation of some irrigation projects in a village and this was when she and her now-dead fiancé Shakthi, who was a social worker there, had met and fallen in love and got formally engaged. The CBI tries to question Chanchala to get some clues against Eashwar but she repeats that he is a good man, and that they are doubting his and her integrity without any basis.
As Chanchala is left alone in the haunted bungalow, she walks into one eerie room after another, peering through dust-laden windows, rickety staircases, and shows no fear of having to be in this strange place. A book and larger-than-life paintings foretell a story of Queen Bhaagamathie. Spirits take control of Chanchala, and she transforms into an unrecognizable person. Day by day, Chanchala shows the character of the ghost that Bhaagamathie possessed. Bhaagamathie was said to be living in ancient times and killed all evildoers. Finally, the evildoers, united and killed locked Bhaagamathie in the palace. Chanchala shows signs of being possessed and eerie incidents happen at the bungalow day and night, scaring the junior police officials.
On the third day of interrogation, she tells the officers that she is Bhaagamathie and was cheated by Chandrasenan, who was the chief soldier of desire to become the king. She supported Chandrasenan because he acted as a noble person, but he cheated her and locked her in the palace.
The CBI leaves and tells Sampath that Chanchala needs psychiatric treatment, but Sampath tells Vaishnavi that Chanchala is maybe enacting some kind of drama to escape. But Sampath himself sees a CCTV visual showing Chanchala possessed. Sampath brings a Swami, who tells him that if a dark ball kept near Vigraha turns black and if a sandal liquid gives a bad smell, then that means there is ghost in the bungalow. Chanchala then sees this and changes this ball into a fake ball and changes the sandal liquid into a bad smell. The next day, Sampath goes at night and finds that the ball had turned black and the sandal liquid now has a bad smell. Sampath sees that Chanchala hammered her left hand onto a wall with a nail. This makes Sampath take Chanchala to a mental hospital. Sampath is then revealed to be the elder brother of Shakthi, who wants Chanchala punished for killing Shakthi.
Eashwar comes to visit her in the mental asylum and tells that her acting as Bhaagamathie was awesome. He then thanks her for saving him from the CBI, and he offers her 300 crores from an 1800 crore profit for a business deal which he got as commission from a corporate by evacuating many villages in a locality. Eashwar is asked by other members to putting the full amount in Chanchala's bank account. He says that it is a risk because Chanchala can find out real things and create problems once released from jail once Shakthi's murder case is closed with no evidence. Eashwar then tells his team members he will get Chanchala to sign the papers to avoid any difficult situation. He then gets a signature from Chanchala. Eashwar, on opening the paper, finds it signed as Bhaagamathie. Eashwar now threatens Chanchala, and tells her that she killed Shakthi at close by forgetting the village deal for the business.
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