The Rajwada is a seven-storey palace built by the Holkar dynasty — the Maratha rulers who governed the region — in the late 18th century, and it sits at the centre of the old city directly on the main Rajwada square. The lower floors are stone in a broadly Mughal style; the upper floors are wood and influenced by French colonial architecture, reflecting the cosmopolitan tastes of the Holkar court.
The palace has been repeatedly damaged by fire and the interior is not always accessible, but the exterior is impressive and the square in front is one of the more atmospheric spots in the old city, surrounded by the 19th-century fabric of the bazaar. Nearby, the Rajwada area is the starting point for Sarafa Bazaar at night, when the surrounding streets fill with street food vendors.