Love life, enjoy life and live life to the fullest — that's exactly the mindset of the four central characters of Raffoo Chakkar. Pappu (Aslam Khan) and Munnu (Yudhishtir), known as PM are very rich brothers. Millie (Nauheed Cyrusi) and Julie (Nisha Rawal), known as MJ are sisters from the upper crust of society. All of them believe in enjoying their life to the fullest and are not interested in getting married. But the unbelievable happens. When forced to get married they run away from their homes.

While on the run lots of fun happens. Pappu and Munnu meet and get attracted to the cute looking Millie and Julie. Naturally they try to woo the girls, not realizing that they are the same girls with whom their father had fixed their marriage. Another twist comes in the story when Millie and Julie meet Kokila and Koena (KK), two middle-aged sisters who hate men and never want to get married.

Fate takes another turn and KK's father, who wants his daughters to get married, dies. In his WILL he clearly puts this condition – if KK do not get married before they turn 45 his property will go to the trust, managed by Dilkhush (Sadashiv Amrapurkar) and Hansmukh (Shakti Kapoor)

They only have 24 hrs to find the boys, get married and save their property because KK will turn 45 the very next day.

P M, who are on the run, are broke but need money to buy an expensive gift for their girls MJ. So they land up at KK's house to rob them. They are in for a surprise. The old girls are Judo/Karate champions and catch the boys red handed. This leads to arrest and eventually marriage to sisters KK. All hell breaks loose.

By now MJ are in love with PM. What follows is a plan by PM Brothers to murder KK to get rid of their old wives. There is confusion all around which leads to a very hilarious unfolding of the entire story.