Rakasa follows the story of Veeru, who returns to his village from the USA to marry his childhood girlfriend. However, immediately after arriving, he learns that she is getting married to someone else. After trying his best to stop the wedding without success, Veeru gets intoxicated and ends up dozing off for the night at a deserted and haunted fort in the village. What challenges Veeru faces after spending the night near the fort, and what he must endure, form the central narrative of the film.
With MAD fame Sangeeth Shobhan in the lead, the film also features Nayan Sarika, Getup Srinu, Tanikella Bharani, Brahmaji, Ashish Vidyarthi, Vennela Kishore, Rajsekhar Aningi, and others in key roles.
Directed by Manasa Sharma, the film is co-produced by Niharika Konidela under the banner of Pink Elephant Pictures.