It was constructed in 1936 as a commemorate for the shashtabda poorthi (60th birthday) of the then ruler of erstwhile Travancore, Moolam Thirunal Rama Varma.

[1] Sri Moolam palace was constructed as a town hall to commemorate the shashtabda poorthi (60th birthday) of the then ruler of erstwhile Travancore, Moolam Thirunal Rama Varma.

The people of Kollam accorded the Maharaja a reception as part of the shashtabda poorthi celebrations in 1917.

Sri Moolam Shashtabda Poorthy Memorial Trust, a trust was formed to construct a town hall to commemorate the event.

SMP Palace is probably the oldest cinema theatre in Kollam.