This is the other island palace in Lake Pichola, which was constructed by Maharana Karan Singh as a hideout for Prince Khurram the estranged son of Emperor Jehangir the implacable foe of the Maharana. The reason for the aid was that the prince was the son of a Rajput mother. It is also said that Shah Jahan [prince Khurram] derived some of these ideas for the Taj Mahal from this palace when he stayed there in 1623-24. The island has some striking carving including a row of elephants that looks as though they are guarding the island. The exquisitely carved chhatri in grey and blue stone is another example.
Maharana Jagat Singh who made a number of additions to it later renovated the place. Within the palace was the temple dedicated to the Lord Jagdish and hence the name is derived from that. There is a museum detailing the history of the island as well and the neat courtyards.