The Naulakha Palace was erected around 1748 AD in the Darbargadh or walled palace complex of the rulers, and since then has been extended by successive rulers. The façade is a festival of stone carving with splendid sculpture, relief, carved columns and ornate jarokha balconies.

The former living quarters of the palace have been converted into a private museum exhibiting textiles, brassware, royal wardrobes, library, silver caskets that carried gifts and messages for Maharaja Bhagwat Sinhji on special occasions like his golden jubilee as ruler of Gondal, the weighing scales on which he was measured against gold on his golden jubilee with proceeds going to charity, trophies won by the Gondal princes at motorsports events, and a collection of toys including 1800s wooden pieces hand-painted with natural colours.

Guests staying at the Riverside Palace or Orchard Palace are given a guided tour of the Naulakha Palace.