The Rani Ki Vav stepwell, which is featured on the 100 Rupee note, holds a rich historical significance. It is located in the town of Patan in Gujarat, India. Rani Ki Vav, also known as the Queen's Stepwell, was constructed during the reign of the Chaulukya dynasty in the 11th century.

The stepwell was commissioned by Queen Udayamati in memory of her husband, King Bhimdev I. It served as a multi-functional structure, primarily designed to store water for the arid region. Stepwells were not only utilitarian structures for water conservation but also important social and religious spaces.

Rani Ki Vav is renowned for its exceptional architectural beauty and intricate carvings. The stepwell descends into the ground, featuring several levels and intricate corridors. The walls of Rani Ki Vav are adorned with over a thousand sculptures, depicting various mythological, religious, and historical themes. These sculptures showcase remarkable craftsmanship and provide valuable insights into the cultural and artistic traditions of the time.

However, over the centuries, Rani Ki Vav fell into obscurity and was buried under layers of silt until it was rediscovered in the 1980s. Subsequent restoration efforts have revealed its grandeur and architectural brilliance, leading to its recognition as a UNESCO World Heritage Site in 2014.

The depiction of Rani Ki Vav on the 100 Rupee note is a tribute to its historical and cultural significance, highlighting the rich heritage of Gujarat and India as a whole. It serves as a reminder of the country's architectural marvels and the importance of preserving its cultural treasures.