Abstract

AbstractNeoliberalism, a contemporary form of liberalism, advocates supremacy of market economic valuation in the social choices and decisions. Expectedly the neoliberal political‐economic compulsions have opened up scope for capitalistic investment in the city of Kolkata. But, due to lack of decentralized urban facilities and a typical outlook of the people to stay in the “core” area, construction of high‐rise buildings replacing the traditional structures and associated cultures in the old and heritage areas is prominent. Cost of living in the urban core has been increasing rapidly due to the advent of the affluent families, having more purchasing power parity; and thus, the people living for generations as old‐settlers have to give up their possession of lands to drift towards the peripheries or sustain by compromising their opulence. As observed, the middle‐income groups are badly affected by the consequences of post‐liberalized developments. This study has been done on the basis of the authors' participant observations, and review of different published literatures to build a theoretical framework, followed by perception surveys of the diverse residents to understand the problem and validate the proposition. It is argued, that unlike the traditional socially clustered neighbourhoods, especially in old Kolkata, the renewed vertical extension of the gated habitations is promoting more social segregations and exclusions in which interdependence and cohabitation in urban governance may not be truly representative, and therefore, unsustainable in future. The research can add significant knowledge in the domain of urban governance and appropriate designing of the cultural cityscape of Kolkata.

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