This elegant structure, built on a 12 feet high platform, stands near the Parmeshwar Pond. On the outside the wall has been divided into the tall first storey and the slightly shorter second storey which are relieved by a series of arched depressions. The most striking element of the monument are the unusual, serpentine brackets which support the eaves at both the levels. The inside of the monument, however, is a single square room with only one true storey.
Originally, the whole structure was crowned by five domes, four at the four corners and a larger one in the middle, but these are now mostly ruined.
Attributed to the 15th century, the building is actually a tomb built by the then Hakim or governor of Chanderi in the memory of his daughter Mehrunissa. The story behind the memorial goes that Mehrunissa had fallen in love with the chief of the army. Her father, however, was against the alliance and decided on drastic action when his requests went unheeded. The army was to go to battle soon, so he hired some soldiers and asked them to make sure that the commander did not return alive from the battlefield. The commander was grievously injured but he somehow escaped and managed to ride back to Chanderi. His strength finally gave way and he fell from his horse at the exact spot where the memorial now stands. When Mehrunissa heard of the tragedy, she rushed to find her lover but when she reached his side he had already succumbed to his wounds. Unable to bear this sorrow, she ended her life as well, right beside him.
The Hakim had loved his daughter dearly and he decided to bury both of them together and build the beautiful tomb. He made a pond around the tomb to make sure nobody could reach it, a metaphor for their impossible love. This pond no longer exists and the tomb is instead surrounded by farmland.