The film, set in the 1940s and moving to the 1960s, revolves around the emotional story of Thulasi (Nandita Das) returning to her village to become a dance teacher. She cannot bring herself to forget Vishwa (Mammootty), a man she has been in love with for two decades. Memories of Vishwa haunt her constantly, and upon a chance meeting with him, she discovers he too is struggling with his love for her. Both are haunted by the memory of Thulasi's cousin, a figure who is unable to control his obsession for his cousin and hide his resentment at Thulasi's feelings for Vishwa. Thulasi (Nandita) comes to Sundarapuri after her guardians - her grandma and uncle - pass away, to work as teacher in a dance school. It is in Sundarapuri that Vishwa (Mammootty) the zamindar whom she had met 20 years ago, lives. They meet again and the feelings that had blossomed in their hearts as teenagers, are revived. Vishwa is unmarried and Thulasi has gone through an unceremonious ritual in the name of matrimony, but fear of societal stigma and innate inhibition keep them asunder. Sensing their intense love for each other, Pattabhi (a very natural essay by 'Delhi' Ganesh once again), the manager at Vishwa's house, helps them overcome their fears. It is then that Fate enters in the form of Siva (Manoj K. Jayan).

Vishwa Thulasi - a romantic musical drama - that describes the strength and grace of true love with the aesthetic sense of lyrical, visual, musical, cultural and the rural beauty of Tamil Nadu, India. This classic, sentimental drama deals with the past love that happened to Vishwam and Thulasi in 1942. Their present love, that is happening in 1962, is a visual portrayal of the internal struggles of a passionate love. Padmashree Mammootty and Nandita Das star as in the title roles of Vishwam and Thulasi. Debutante director Sumathy Ram has written and directed this Tamil feature film.