Initially, the construction of the town hall (colloquially Called "Tondal" in the 19th century) could not be completed because of the lack of funds; only the library and museum were built after raising an amount of Rs.10,000 through a lottery conducted by the 'Literary Society of Bombay' (Mumbai).

The entire construction was made of stones brought from England and was designed in a Neo-classical fashion.

Within the building are wooden floors, spiral staircases, and terraces adorned with wrought iron.

Sir John Malcolm, Governor of Mumbai in 1930 said, "It is the most magnificent structure that taste and munificence combined have as yet erected in India".

[3] There are many ancient manuscripts in Persian, Prakrit, Urdu and Sanskrit along with other treasures preserved in the hall.