Excitation wavelength dependence of solvation and rotational relaxation dynamics has been investigated inside niosome, a biologically stable, nontoxic to our body, multilamellar vesicle system, by using steady state and time-resolved fluorescence spectroscopy to explore the heterogeneity of such a system. Red edge excitation shifts (REES) of 7 nm for Coumarin-153 (C-153) and 11 nm for C-480 were observed with change in lambda(ex). Average solvation dynamics is composed of two types of slow components and one fast component. There are two distinct restricted regions, one at the bilayer headgroup region and the other on the two extreme surfaces, which are responsible for the slow components. An unaltered fast component is reported for the segmental chain dynamics of poly(ethylene glycol) (PEG) located at the headgroup region of niosome. The trend in lambda(ex) dependence obtained for C-153 is found to be similar to that obtained for C-480. Such hindered solvation is attributed to the presence of a strong H-bonding environment of water molecules in the headgroup region, and movement of these highly bound water molecules along with a hydrated oxyethyelene moiety control the observed slow relaxation.