Three revolves around a couple Anjini and Rajeev, and a charming yet canny stranger Sanjay. Anjini manages to make a good living for herself and her failed husband by taking violin classes for kids. But Rajeev's egotism strikes bad and he harasses his wife into selling their house to fund his new business. Unable to tolerate her furious husband's pressure, she agrees to sub-let the house to make some extra money for their living.
Sanjay, a singer at local pubs, enters their house as the new tenant. Soon he gets to know about the strained relationship between Anjini and Rajeev and begins to take advantage of the situation. This, results in an illicit relationship between the two.