many tourists passing by from the neighbouring station.
Bhardwaj said that the conversion of old markets into new complexes "is part of a larger plan to identify untapped and unidentified sources of revenue".
"While we know about these markets, there are many places (not just markets) which are not even known to us. So, we are looking into conducting a thorough survey to identify these spots, so that we can know these untapped sources of revenues," he said.
While the municipal body may be looking at maximising its revenues through a complete "replacement strategy", the demolition work is not likely to go down well with either the affected shop owners or heritage lover of the city at large.
Kolkata-based photographer Rajiv Soni, who has a penchant for capturing heritage buildings through his lens, says the "legacy must be preserved".
"In the west, the government preserves its old markets as heritage landmarks to drawn in tourists but in our country, we dismantle them in the name of development. Mumbai's historic Crawford Market too had faced such threats in the past and I am happy Kolkata's New Market is still standing," he said.