Mayasabha is the story of an old single-screen theatre in Mumbai named Mayasabha which lies in a dilapidated state and is home to a once-famous and now-unhinged film producer, Parmeshwar Kumar (Jaaved Jaaferi), who lives with his son, Vasu (Mohd. Samad). One night, they clash with intruders and shady friend, Ravrana (Deepak Damle) and his sister Zeenat (Veena Jamkar) over a hidden treasure. As they search for hidden gold, deception grows, secrets come tumbling out of the cupboard, and old wounds resurface. Will they finally get to the treasure?