Most of the traditional image retrieval methods use either low level visual features or embedded text for representation and indexing. In recent years, there has been significant interest in combining these two different modalities for effective retrieval. In this paper, we propose a tri-partite graph based representation of the multi model data for image retrieval tasks. Our representation is ideally suited for dynamically changing or evolving datasets, where repeated semantic indexing is practically impossible. We employ a graph partitioning algorithm for retrieving semantically relevant images from the database of images represented using the tripartite graph. Being “just in time semantic indexing”, our method is computationally light and less resource intensive. Experimental results show that the data structure used is scalable. We also show that the performance of our method is comparable with other multi model approaches, with significantly lower computational and resources requirements.