Palakkad is a town in the central part of Kerala. It has witnessed many historic events in the past. The reminiscence of this past is still visible in the constantly evolving fabric of the town. Agraharams, a traditional settlement where the Brahmin community resides is a physical manifestation of an exodus from Tamil Nādu, between the 14th and 15th centuries. It is a living heritage where the Brahmins still continue to live. For any heritage settlement to be sustainable, there must be considerations given to the changing needs of the community. The current policies and guidelines that govern the protection of Agraharam is limited to just one Agraharam. These policies heavily focus on authenticity of the physical fabric of the structures. This has posed major challenges for the community and its continuity. The author has used case study methodology as the larger tool to collect data. Review of literature to understand the concepts of existing conservation approaches, and existing policies for the conservation of Agraharams are done to attain inductive data. The research is exploratory and concludes if the living heritage approach, which focuses on continuity as the main criteria for preservation is appropriate for Agraharams. The research would contribute towards sensitizing people to the importance of identifying the appropriate conservation approaches for various typologies of heritage.