According to Archeological deptt of India, it is Ancient Palace leh.
It is in the middle of Leh town and is situated on small hill top.
It looks beautiful and picturesque from far & from different parts of the city but there is nothing inside the the palace for display may be when I visited at that time reconstruction work was on progress.
It is a multi story building though small in size but at the time of my visit only 3 stories were open.
The view of city from palace is beautiful and as per me it is was worth climbing. There are 4-5 benches to sit, relax and enjoy the view.
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