Khanderao Market is one of the busiest market in city. The Market was presented as a gift to Municipality by Maharaja Sayajirao Gaekwad III to mark the Silver Jubilee of his administration. The offices of the Vadodara Municipal Seva Sadan (VMSS) are located inside this building. The building was erected by Maharaja Sayajirao Gaekwad III in Year 1906, and named after Maharaja Khanderao Gaekwad.
The building also has an statue of Maharaja Khanderao Gaekwad at middle of two front gates. Also building has Name of Market written in Hindi and English as ‘The Khanderao Market’ above a Clock.