Made in pure white stucco, this splendid palace was the royal residence of Gaekwads. It was built in 1721 by Malhar Rao Gaekwad and it served as a repository of the precious jewels and gold of the Gaekwad family. In earlier times, it houses some of the most precious gems and jewelries including the 125 carat diamond studded necklace and barrels of solid gold and silver guns. It has now been turned into a museum where the visitors can see a fine collection of Indian paintings, royal heirlooms, artwork from China and Japan and also the Graeco-Roman exhibits.