The palace-run ride leaves from the City Palace jetty (Rameshwar Ghat) - book there, not through a street tout near Lal Ghat, who sells the identical shared boat for ₹100-200 more and calls it 'private'. Other operators run separate services from other ghats. Sunset slots sell out, so book earlier in the day, and confirm boats are running - they may not go when lake levels are very low or in rough weather.
The lake dates to 1362 CE, when it was created by damming the Ayad River, traditionally credited to a Banjara trader named Pichhu during the reign of Maharana Lakha. Maharana Udai Singh II enlarged it in the 16th century after founding Udaipur on its banks, submerging the village of Picholi that gives the lake its name. Its waters and islands, including Jag Niwas and Jag Mandir, became the setting for Mewar's palace architecture and were later used as a Mughal-refuge route and, in the 20th century, as film locations.