The story is about an old decrepit house called the Chowdhury Mansion, which was haunted by the spirit of its last owner, before other wandering ghosts settled down.

The first section of the story, describes the ghosts familiarizing with each other and as their initial hostility towards each other disappears, they start to regard each other as friends.

Unfortunately, this atmosphere of peace and tranquility is destroyed when the ghosts discover that a greedy, plot dealer had made up his mind to convert the large, old house into a deluxe shopping mall.

[4] The Indian Express gave Bhooter Bhabishyat a four-star rating and described the film as "one of the most intelligent and satiric comedies one has seen in a long time".

Two of the films character has been portrayed in an ad-film of Bisk Farm Top biscuit; where Debdut Ghosh reprises his role as Keshab Narayan Chowdhury, and actor Pushpita Mukherjee replaces Swastika Mukherjee as Kadalibala Dasi.