The Paliam Kottaram or the Paliam Palace was rebuilt in the 17th century by the Dutch as a gesture of gratitude to the Paliath Achan for helping them conquer the Portuguese. It was the residence of the Paliath Achan, the prime minister to former Maharajas in the State of Kochi. The building is not being used, except for the left wing on the ground floor that is an office. Apart from its historical value, the palace has a strong social significance because it was from here that the famous Paliam partition was carried out. Also, every year in April, all the members of the Paliam family meet in this place and celebrate their annual festival, hence retaining the cultural significance.
Therefore, to carry forward the rich culture and heritage, a three-storeyed museum building has been proposed to take its place. Walking down the collonaded passage to the main entrance, one can notice elaborately carved timber staircases with balusters, and thick walls with splayed openings glide past them. The restoration and conservation of the Palace to a museum provide the opportunity to divulge the history of consort and conflicts in the relations of Paliam with the Dutch, Portuguese and the British.