The plant is sitting indoors in our sitting room. There is plenty of natural light and the room does get quiet warm.
I had read two different articles about browning leaves- but both had different views. One said it was underwatered, the other said overwatered! So I decided to post the question here before I did anything further with the plant!
Well, you plant seems to have had a name change - it is also known as Areca lutescens, or more latterly Chrysalidocarpus lutescens. The change in a name happens when botanists have more detailed information about a particular plant. - Your plant also goes under the common name of butterfly palm or golden feather palm.
You haven't told me where this plant is growing - in the house or outside in the garden?
If we look at where the plant originates - Madagascar - then we can go a long way to giving it the conditions it needs to thrive. Madagascar has high rainfall, the atmosphere is humid and it never gets too cold. I suspect from your description is that it is suffering from drought stress.
If you can tell me where you have placed the plant, then I can start to give you some remedy as to how to get it looking healthy once more!