The Opera House was declared a Grade II A heritage building as per the Heritage Regulations for Greater Bombay 1995 and upgraded to Grade I heritage building in 2016. It also falls within the urban heritage precinct of Opera House Precinct. The conservation scheme is adhered to the Mumbai’s Heritage Regulations. After a series of ownership changes, Opera House eventually came under the custodianship of Shri Jyotendrasinhji Jadeja.