Contemporary Indian cities have been in the flux of an emerging cultural resurgence that has greatly impacted its socio-cultural environment. As such, there has been a proliferation of festivals, growing interest in the revival of traditions and rituals, and celebration of indigenous arts, crafts and cultural symbols representing each city’s unique identity markers. With growing emphasis on the ‘cultural economy’ as a strategy for urban renewal at both national and global platforms, the subject of inquiry of this research focused on the spaces in the city where the manifestation of intangible cultural heritage such as cultural events occurs. This was premised on the belief that cultural manifestations impart deep-rooted meanings to places and enhance people’s association with a place through their recurring nature of occurrence and public demonstration of various ritual and social processes. The research probes into the theoretical underpinnings of ‘Place Identity’ while exploring how participants’ perception of such event spaces could be enhanced. The study draws findings through the analysis of the recent resurgence of multicultural festivals in the biggest city of Northeast India, Guwahati, and their inherent impact on the changing aspects of the identity of the place and the people involved.