Sharaarat is a tale of the reformation of a young man. Abhishek Bachchan plays the role of the spoiled son of rich parents, Romesh Sharma and Navin Parihar. He is arrested for crossing a wrong signal which led to an accident. The punishment given to him is that he has to serve in a home for the aged for 30 days.
He has Neha Sengupta (Hrishita Bhatt) for company. She is an aspiring journalist who is writing a book about the Asharam and develops feelngs for the spoilt brat Rahul. Amrish Puri, Dara Singh, A. K. Hangal, Tinnu Anand, Helen are among the inmates of the ashram. Their son and daughers have deserted them.
Living with them Abhishek develops feeling for them and he is reformed. A builder has eyes on the property. He wants to take over the place and build posh apartments. The rest of the story is about saving the ashram from the builder.