A city’s heritage represents significant physical and socioeconomic capital that is accumulated through the knowledge, investments, and labor of past generations. This so-called “cultural capital” not only confers a distinctive identity to cities, but, if managed properly, also represents an important component of their wealth through a variety of uses essential to economic [7] social, and environmental sustainability and advancement [9] Today in most historic cities in India, heritage assets are not yielding all of their potential benefits to their populations. Despite containing diverse and dynamic economic activities, a lack of investment in these heritage assets and the benefits they can generate has contributed to sometimes irreversible processes of heritage decay, abandonment, or destruction. Such processes have led to major losses of cultural, physical, and socioeconomic capital for the cities. In order to test the above argument this research adopts an evidence based methodology in critically examining revitalization strategies carried out in two very culturally rich and rapidly transforming cities- Delhi and Jodhpur. While Delhi, the pivot of golden triangle with multiple ethnicities will be studied for urban renewal initiative by Aga Khan Trust for Culture (AKTC), that act as a catalyst for socio economic development and improving their quality of life; Jodhpur which is at the harbinger of being characterized as the cultural capital next to Jaipur has diverse cultural heritage is studied for its policy level interventions implemented under World Bank (WB) - Cities Alliance (CA), Technical Assistance in the state of Rajasthan. The discussion and learning’s from this research would provide national policy makers, state governments, urban local bodies and sector professionals with a refined methodology, to make their historic centers inclusive, resilient and sustainable.