Lake Palace Founded in 1568 by Maharana Udai Singh. The Maharana, ruler of Jaipur from 1628 to 1654, was very friendly with Mughal Emperor Shah Jahan and encouraged his craftsmen to copy some of the glories of his unmatched buildings at Agra . A floating palace situated in the center of the Lake Pichola . This five star luxury hotel and managed by the Taj Group of Hotels.  The Lake Palace is one of the most beautiful palaces in the world. The suites in the old part of the palace are coloured glass windows, cool white marble and assortment work and it attracts the eye of the viewer.