[2] Nowadays the property is under the protection of Indian National Trust for Art and Cultural Heritage (INTACH).

This palace was built for a purpose of permanent residential abode for the Gajapati Rulers of Paralakhemundi Estate belonging to the Eastern Ganga dynasty.

As regards its historical importance, the seeds of a separate statehood for the Odia-speaking people were germinated in the Gajapati Palace precincts.

A huge eye caching decorative iron gate stands anchored in between two round shaped tall minarets known as Gombuja (ଗମ୍ବୁଜ).A large mounted metal bell is situated at the main entrance, to be struck manually by a heavy wooden mallet for indicating accurate hourly time to the Palace and the general public of the town.

The gilt decorated walls and intricate wooden trellis-worked Durbar Hall is the main attraction of the palace.