This is an excellent specimen of Indian architecture built in black polished stone. It has extensive premises with a garden, fountain and wrestling ground. The whole building is eight-angled and has a tower in the middle. The clock on it was fixed in 1877. At separate distances there are small towers. On every glass are painted the events in Chhatrapati Shivaji Maharajs life, the founder of Maratha Empire. There is a zoo and a ground lake. Even today, it is the residence of Chhatrapati Shahu Maharaja, the direct descendant of Chhatrapati Shivaji Maharaja.

The ground floor of the New Palace accommodates the Shahaji Chhatrapati Museum, given over to memorabilia of the Kolhapur rulers. Several tourists from across the country visit the New Palace each year. This museum exhibits royal ways of existence.

It is dedicated to a fine collection of possessions of Chhatrapatis of Kolhapur like costumes, weapons, games, jewellery, embroidery and paraphernalia such as silver elephant saddles. A letter from the British Viceroy and Governor General of India is the other memorabilia. There is also one of Aurangzebs swords at the Shahaji Chhatrapati Museum. One section has stuffed Tigers, Tiger heads, Wild Dog, Sloth Bear, staring Wild Buffalo, Lion, Black Panther, Wild Boar, Black Buck, a number of other Deer varieties, and a Himalayan Black Bear.

The Darbar Hall occupies a double-height space in middle of the Palace. The side walls display lobed arches filled with stained glass illustrating scenes from the life of Shivaji carved columns with temple-like brackets support the cast iron balcony above. A raised throne is placed at one end of the Hall.