Rajwada alias Holkar Palace is a two-century old Palace of the Holkar dynasty, located in the main city square of Indore. A blend of French, Mughal and Maratha style of architecture, this 7-storeyed structure serves as the gateway of the Rajwada and was once the centre of all the trading activities in the city. The lofty entrance archway of the palace above a huge wooden door encrusted with iron studs, leads into a vast courtyard enclosed by galleried rooms and the arcaded Ganesha hall. This hall was once the venue of all state and religious functions and now it is used for art exhibitions and classical music concerts. This remarkable mansion portrays three stone made lower stories, wooden upper stories, well-laid garden with fountains and an artificial waterfall and and some outstanding pieces of 11th century sculptures. 

The palace has been burned three times in its 200 year history. After the last conflagration in 1984 a great portion was destroyed and now only the front facade remains. It has been renovated recently which has managed to bring back the old glory to some extent. A new palace is located on the northern side, while the old palace stands in the old part of the town.