The story of Chance Pe Dance is about a struggling actor who is very passionate about his career named Sameer (Shahid Kapoor). Sameer is really energetic and is always bursting with ideas, but struggles at times of getting a break in the film industry while keeping many different types of jobs. During his struggling in the various jobs, he meets a young girl named Tina (Genelia D'Souza). Atlast Sameer gets his big break in the film industry, but later finds out that he has to move out of his own house because he doesn't have enough money to pay all of his rents. Having no other choice left, Sameer starts living in his junky and shakey old car and starts teaching various types of dances to young kids who hate dancing, while he hates the kids. The kids also have tried to win competitions, but always lose. His life starts to shatter when the director who was supposed to cast Sameer, started to look at who has more talent through a hunt. Sameer starts to bond with the kids and gives all his attention to them. He also falls in love with the fun-spirited and gorgeous Tina. Tina finally convinces Sameer to enter the talent hunt. Thanks to his good luck and passion for acting, Sameer turns out to be the winner and emerges out as a superstar.

Rajiv Mathur decides to go conditionally steady with fellow collegian, Payal, so that be can be permitted to go on an outing. Payal accepts, and accompanies him. During the outing, he gets intoxicated, and attempts to molest her, and she decides to dump him. Thereafter, slighted but not beaten - Rajiv turns on his charms on another beauty - the gorgeous Alisha Sahay. But will she be as permissible as Payal?