Speech enhancement concerns the processes required to remove unwanted background sounds from the target speech to improve its quality and intelligibility. In this paper, a novel approach for single-channel speech enhancement is presented, using colored spectrograms. We propose the use of a deep neural network (DNN) architecture adapted from the pix2pix generative adversarial network (GAN) and train it over colored spectrograms of speech to denoise them. After denoising, the colors of spectrograms are translated to magnitudes of short-time Fourier transform (STFT) using a shallow regression neural network. These estimated STFT magnitudes are later combined with the noisy phases to obtain an enhanced speech. The results show an improvement of almost 0.84 points in the perceptual evaluation of speech quality (PESQ) and 1% in the short-term objective intelligibility (STOI) over the unprocessed noisy data. The gain in quality and intelligibility over the unprocessed signal is almost equal to the gain achieved by the baseline methods used for comparison with the proposed model, but at a much reduced computational cost. The proposed solution offers a comparative PESQ score at almost 10 times reduced computational cost than a similar baseline model that has generated the highest PESQ score trained on grayscaled spectrograms, while it provides only a 1% deficit in STOI at 28 times reduced computational cost when compared to another baseline system based on convolutional neural network-GAN (CNN-GAN) that produces the most intelligible speech.