Achanurangaatha Veedu (2006) told the story of a father's suffering as his under-aged daughter Lisamma is kidnapped and is forced into a sex racket. In Lisammayude Veedu, the young girl Lisamma (Meera Jasmine) has grown up and seems to have adjusted to her past. She runs a telephone booth and looks after her two sisters and her father who has lost his mental balance after seeing his daughter suffer.
She, however, looks on life with a somewhat caustic sense of humour and has become worldly wise. Her brave attitude wins her an admirer in Shivankutty (Rahul Madhav), who is a head load worker and has communist ideals. He also acts as a strongman for his party when required.
The two get married and life is good for Lisamma as she gives birth to a baby boy. When the child is four years old, Shivankutty's past catches up with him and he is killed by his enemies.
The film comments on current situations, is critical of the leftist ideology, and espouses the theory of what goes around comes around.