Maithli (Bipasha Basu), an actress is at the peak of success. She is a kind of actress who gets the best roles and wins all the awards she's nominated for.
Maithli is in a relationship with a director named Aditya (Emraan Hashmi) but the relationship ends when a younger actress, Sanjana (Esha Gupta) makes her film debut.
The charm of Sanjana overshadows Maithli. Suddenly, she seems forgotten and everybody only wants to work with Sanjana. Maithli sees her career fading away and gradually turns to black magic. She decides to destroy Sanjana and get back to Aditya.
"Raaz 3" is directed by Vikram Bhatt, and produced by Mahesh Bhatt and Mukesh Bhatt.The film is a sequel to "Raaz – The Mystery Continues" (2009), which itself was a sequel to "Raaz" (2002).