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Gosmari Family follows the hilarious exploits of a Gosmari (Careless) Family, consisting of absent-minded patriarch Ramesh (Devdas Kapikad), his well-meaning but equally absent-minded son Deepu (Arjun Kapikad) who runs a wedding photography and decorating business, and Deepu's simple-minded Uncles Mohana (Arvind Bolar) and Ramanath (Bhojraj Vamanjoor). Ramesh finds himself in hot water when the bank guarantee that he has stood for a friend is claimed and the family home is in jeopardy. Add to the mix a thief Santhu (Navin Padil) who is hiding in their house pretending to be a patient, two waiters Prashant and Kishore (Prasanna and Sandeep Shetty), a furious car owner Shivananda (Umesh Mijar) and we get the recipe for a delicious and fun-filled comedy.

Three friends in their forties reunite in Mangalore, Karnataka after twenty years at the funeral of their Kabbadi coach who also used to own their favorite cafe, only to discover that the canteen is mortgaged to a loan shark who plans to demolish it and use the land for commercial purposes. The three friends decide to stay back and help out the man's grandson, who now runs the canteen, in saving it. The trials the gang faces in raising the money and the personal lives of the three friends forms the rest of the story.