Thevally Palace was built in between 1811 and 1819 the reign of Gowri Parvati Bayi.

Now the palace is used as the NCC Group Headquarters of Kollam district.

The Kings of Travancore had used Thevally Palace during their visits to Kollam in order to meet the British Residents and to discuss with the officials.

The total skeleton of the palace, made of materials like laterire and lime plaster.

The main attraction of the palace is that, it is situated on the banks of Ashtamudi Lake.