In an example embodiment, a method, apparatus and computer program product are provided. The method includes facilitating receipt of primary depth map and plurality of color segments, the primary depth map associated with a first image and a second image that are stereoscopic pair of images of a scene, and the color segments associated with the first image. The method includes generating plurality of disparity planes based on the color segments and the primary depth map. The method includes determining aggregated cost volume between pixels of the first and second images for the disparity planes. The method includes assigning plane labels corresponding to the disparity planes to pixels of the first and second images based on the aggregated cost volume, an individual pixel being assigned a plane label. The method includes generating secondary depth map based on the plane labels assigned to the pixels of the first and second images.