Jal Mahal, built as a summer palace by Sawai Pratap Singh in 1799 in the middle of the picturesque Man Sagar Lake, was in a state of decay thanks to the filth released into it by two of Jaipur's biggest drains, Brahmpuri and Nag Talai. 

As part of its restoration efforts, the Jal Mahal, along with the Man Sagar Lake, was leased out for 99 years to the Jal Mahal Resorts Pvt Ltd (JMRPL) - a firm jointly owned by the Kalpatru Group and Jaipur jeweller Navratan Kothari and the Rajasthan Tourism Development Corporation (RTDC) under a public private partnership during the Congress government headed by Ashok Gehlot during his first term (1998-2003). 

The government provided 100 acres of land and permitted reclamation of 15 acres of land from the lake for the construction of resorts and hotels for a nominal fee of Rs 2.5 crore per annum. The project due to be completed in three phases promised to be a destination in itself with a monument and a resort with entertainment, food courts, shopping areas, hotels and conference centres attracting and boosting both, leisure and market.

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