God has bestowed the city of Srinagar-the summer capital of the State of Jammu & Kashmir, with a large number of picturesque lakes and serene wetlands. Of these, the famous Dal and Nigeen lakes are important international tourist destinations. While as, wetlands of Anchar, Hokersar, Shalabug, Narkura and a large number of others are valued as favourite habitat of migratory ducks that visit Kashmir valley from places as far as Central Asia. These lakes and wetlands are also important socioeconomic support systems for the city inhabitants besides having nourished Kashmiri culture and civilization for centuries. In the past, these lakes and marshes had a pronounced impact on the micro climate of the city. However, due to unplanned urban expansion, there has been a tremendous change in the spatial extent of most of these water bodies as a result of which important wetlands of Bemina, Batmalloo and Arath stand already lost to other land uses. In the present study, geospatial tools were employed for quantifying changes in the spatial extent of fragile ecosystems of some of the world's most famous lakes and wetlands located in the suburbs of Srinagar. The extent of lakes, wetlands and built-up land as depicted on the archive topographical map of the area dating back to 1911, was compared and analysed with respect to the spatial extent of lakes, wetlands and built-up land of the area as interpreted from IRS 1D LISS-III satellite imagery of the year 2004 to reveal astonishing results where more than 50 percent of the water bodies have been lost during the last century. The loss in the spatial extent of these lakes and wetlands has in fact affected the micro-climate of the city besides exposing it to flood threat.