Aswathy decides to marry her childhood friend Raju, who was a mentally ill patient. But her life takes a turn when he starts behaving in a peculiar way.

The story of Aabhaasam is about an overnight bus journey from Bangalore to Kerala where the travelers analyze the schizophrenic society and how it has evolved through different times. It brings to audiences' attention how the societal views are influenced by patriarchy. The movie is director's attempt to show the bus as the metaphor for the system and the travelers as the victims.

A young, enthusiastic and free-spirited writer arrives to stay in a desolate mansion, rumored to be haunted by the apparition of a young woman named Bharghavi who committed suicide when she was betrayed in love. The writer, who begins to pen her story, soon realizes that there is more to her tragic tale.