The Sarasbaug temple houses the idol of Shree Siddhivinayak ("God who makes wishes true").

A sacred ground of faith for millions of devotees in Pune and around the world, on an average the Sarasbaug temple receives ten thousand visitors a day and this figure goes up to eighty thousand devotees per day on Ganesha Chaturthi and other special occasions.

Various dignitaries and luminaries throughout India have made it a point to visit this sacred temple to seek the blessings of Shri Siddivinayak.

In the 18th century, soon after completion of Shree Devdeveshwar Temple on Parvati hill, Shrimant Balaji Baji Rao turned his attention towards the development and beautification of environs of Parvati hills.

In 1784, Shrimant Sawai Madhavrao Peshwa built a small temple in Sarasbaug and installed the idol of Shree Siddhivinayak Gajanan, the God he worshiped.