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Vasantha Mallika movie tells Balakrishnan (Mukesh) who works for a private company and is a miser. Nandini (Uma Sankari) who is his colleague and they are in love. Balu however does not go out of the way to proclaim his love as he has other priorities.

One day his office peon tells Balu about a haunted house whose owner is willing to rent it free for two years, as he wants to remove the stigma attached to it!

Balu and his close relatives Bodeswaran (Jagathy) and family move into the new house. He rents the top portion of the house to a ladies hostel. Soon Balu gets married to Nandini and then the trouble starts.
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