It is real! The image shows Chand Baori, a stepwell in Abhaneri, Rajasthan, close to Jaipur. It was built in the 9th century by Raja Chand, a rajput of the ruling Chamana Dynasty at the time, to solve the water problem of this arid region. Locals had to dig almost 30 m (100 feet) deep to find a dependable water source.
Feel reminded of M.C. Escher's lithograph "Relativity" (1953)? We did too!
According to a local legend, the well was built in one night by ghosts and contains this many steps so that anyone who throws a coin in the well cannot retrieve it easily. More likely, the legend of the ghosts was created to keep thieves out who wanted to steal the precious water.
The back of Chand Baori with the temple, overlooking the stepwell:
Because water supply is much better and much more reliable now than eleven centuries ago, the well is now defunct, proven by the green mat of algae that has formed on top of the water.