This evocative and ebullient romantic drama revolves around the coming-of-age experiences of Rajiv (Shahid Kapoor), a charming, if brash young man. When he joins Spencer College, his most ardent wish is to become popular and well-loved among his peers.
When he is ragged for not having a girlfriend, he decides to ask Payal (Amrita Rao) to become his girlfriend and tells her that he's in love with her. Payal returns his "feelings" and agrees, as she has been in love with him since their school days. During a midnight picnic with friends however, Rajiv misbehaves with Payal leading to a lot of heartache and their eventual breakup.
Soon after, Alisha Sahay (Shenaz Treasurywala), a stylish and hot girl, joins their college. Rajiv is smitten by her and manages to woo her with the help of his friend Love Guru (Yash Tonk). Meanwhile, Mambo and Payal become close, but Payal still cares a lot for Rajiv and is silently hurt at seeing Alisha and Rajiv together. How will these interlinked relationships pan out? Will Rajiv ever grow up and realise the difference between what is real and what is glamorous?