The foundation stone of the building opposite Peel Garden was laid on 25 November 1884 by James Furgusson, Governor of Bombay. The building was opened on 17 December 1886 by Lord Reay, Governor Bombay. The building was occupied in 1893. The building was constructed by R. Proctor Sims, the Public Works Councillor. The building is now used as the Sheth J. P. Ayurveda College.