The market is housed in an iconic building from the British colonial era in the Shukrawar Peth locality in the center of the city.

In the early years of the British rule an open air vegetable market used to be held outside the Shaniwar Wada.

It was designed and built by Walter Ducat and Vasudeo Kanitkar with significant input from engineer Narso Ramchandra Godbole.

The Municipal offices moved to a purpose built new building in the Shivajinagar area of the city many decades ago.

Four market wings housing the majority of the stalls radiate out from the ground floor verandah.