The then His Highness Maharaja Vijaysinh was the first Indian to win the world renowned Derby Race, who utilized the prize money of Rs. 4 million to build this palace with an intention of providing employment opportunity to the people of his estate.

The palace is known as Wadia Palace as is situated in the Wadia Village limits. Designed in a shape of English letter "8", this palace contains more than 1000 doors and windows.

Most beautiful attraction of this palace is the wall pictures decorating the whole palace artistically. ‘Wali’, a war prisoner of Italy during the World War II was brought here with a special permission of British Government to paint these wall pictures. Painted with natural colours these wall pictures are live with the original texture even today.