"Scions of the Gaekwad family have signed a final deal to resolve the property feud in presence of a magistrate at a local court here today," advocate for Samarjeetsinh Gaekwad, the coronated Maharaja of Baroda, A V Avadhut told PTI.
The property's estimated worth is Rs 20,000 crore, as per current market rates, according to sources close to the royal family.
It was after the death of their eldest brother, the late Fatehsinh Rao Gaekwad in 1989, that the legal battle over the inheritance of property began between Sangramsinh and Ramjitsinh.
Despite Ranjitsinh Gaekwad's death in May 2012, the dispute continued between his son Samarjeetsinh Gaekwad and his uncle Sangramsinh Gaekwad, who resides in Mumbai.
Negotiations between the two factions of the family for a settlement were on for six months, before the final deal was reached in a meeting held yesterday between the royals and their advocates.
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