The Maharaja's 'New' Palace, completed in 1881, houses the Shahaji Chhatrapati museum. The building was designed by 'Mad' Charles Mant, the British architect who fashioned the Indo-Saracenic style of colonial architecture.

The palace contains a weird and wonderful array of the old maharaja's possessions including his clothes, old hunting photos, silver peacock-shaped elephant saddles and memorial silver spade he used to 'turn the first sod of the Kolhapur state railway' in 1888.