Mayamruga revolves around five middle-class women (Malavika, Brunda, Shree Lakshmi, Vidya, Dakshayini) who are striving to maintain a balance between their personal and principled living.
Mayamruga means a dream that cannot be realized.
Malavika belongs to a middle class family and is a woman rights activist who dreams of an ideal society with equality and liberated women. She marries Krishna Prasad opposing her family, who belongs to an elite class of society.
Malavika’s family consists of father Narayana Murthy, elder Brothers Shreedhara & Ranganatha, younger sister Vidhya who is a handicap.
Malavika is not in good terms with her in laws as she constantly questions the illegalities in the business matters of her father-in-law Mohana Murthy and his business partner Shivaji Rao and mother-in-law Radha. The mother in law tries to separate her from her son. How does she deal with these situations is her story.
Shree Lakshmi belongs to a conventional family where her father Lakshmi Narasimha Shastri is a Sanskrit scholar and a priest. Other family members include mother Kamalamma and siblings Shyama and Sharade. Bound by cultural values, Shree Lakshmi is not supposed to step out of the house, get a job and support the family through her salary. But yet, various opportunities form the modelling world and film world make her overcome the stern cultural restrictions and provide the family with a luxurious life through the money earned.
Brunda is a middle class girl and a teacher, intends to support her aging father Soorappa, whose street watch repair business is not doing well. She lives in a large joint family comprising her mother, jobless elder brother Hari, younger brother, younger sister Harini and distant relative Mukunda. She secretly marries a man named Suresha against her family's wishes.
Dakshayani, a close friend of Malavikais a widow and is pregnant from her dead husband. She is under the care of her brother-in-law Sadananda and his wife Sarala who are in greed for the property to be inherited by Dakshayini. With an evil intention acquiring the property, Sadanand and Sarala try to kill the fetus through various means. How will Dakshayani overcome such circumstances with the help of Malavikaand Shreedharais a part of the story.
Vidya is a polio-handicapped girl who is younger sister of Malavika. She struggles in life to find a job in spite of her disabilities. Meanwhile she gets honey trapped by a jail returned small time criminal, forgery Rajeeva. He makes Vidya persuade her family to consent their only house to his name in lieu of marrying handicapped Vidya. How does Vidya balance her family and husband's illegal forgery dealings is the crux of the story.
