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Omkareshwar is historic temple of Mahadev of Peshwa era. It is protected by Law as “HERITAGE GRADE I” monument. This is the biggest temple of Pune city. It is recognised as “C” Grade Temple of Maharashtra. It is registered with Charity Commissioner Pune as Public Trust. Omkareshwar temple was constructed earlier than present day Kashi Vishwanath temple. Rani Ahilyadevi constructed Kashi Vishwanath temple in the years 1777 to 1780. Shivrambhat constructed Omkareshwar temple in the years 1736 to 1738. Shivrambhat was of philosophical nature. In search of a quiet place for meditation, he reached Ganeshkhind temple at the foot of Chatushrungi hill.

The temple was in dilapidated condition. Sometime between 1730 to 1734 Shivrambhat restored and renovated that temple. Thereafter, he would meditate at the same temple. He built many temples in Maharashtra, to name a few, Someshwar Pashan, Nageshwar, Kedareshwar, Uddhar Rameshwa and restore many others. After construction of new Ganesh temple, people of Pune started visiting it. To provide drinking water for visitors, Shivrambhat excavated an abandoned well to the north of temple. To his surprise, he found large pots (Hande) filled with gold mohors(coins). As per law, treasure trove is state property, hence Shivrm Bhat took the gold to Peshwa. Peshwa was pleased with honesty of Bramhin and offered Shivram Bhat that gold as gift. Shivrambhat declined the gift saying wealth is of no use to him as he was Sanyasi. Thereupon, Peshwe put that gold in state treasury & asked Shivrambhat what is his wish is to use the gold for.

At that time, there was no Mahadev temple worth the name left in Pune. Two historic temples of Mahadev – PUNYESHWAR & NARAYNESHWAR, were desecrated and converted into mosques about 500 years ago by foreign invaders. Shivrambhat expressed his desire to build a magnificent Shiva temple. Peshwe agreed and asked Shivrambhat to suggest location to build the temple. Shivrambhat said that Shiva resides in cemetery & hence suggested spot near Mutha River. Peshwe gave, at the bend of Mutha river, the entire right bank of the river for construction of the temple . Peshwe asked Shivrambhat to take the responsibility of construction of the temple. Peshwe arranged to bear the entire cost from treasury . Entry in Peshwe record reads as “On the slope from where Cows go to river, Shivrambhat was told to construct Shivalay”. Temple was built during the reign of Thorle Bajirav Peshwa .

Since Bajirav Peshwa was all the time on war expeditions, his younger brother Chimaji Appa was in charge of Pune. Omkareshwar temple was constructed under the patronage of Chimaji Appa Peshwe. He was a devotee of Omkareshwar. His Samadhi is in front of Omkareshwar temple where his wife Annapurnabai had performed Sati with him in the year 1740. As per Peshwe records, 285 years ago, Rs.1.50 lakhs were spent on construction of Omkareshwar temple. Of all Shivrambhat’s temple creations, the most memorable grand creation is massive Omkareshwar temple. Shivrambhat started construction on 26th October 1736. The Main temple was consecrated on 18th June 1738. As per Peshwe records, “On Ashadh Shudh trayodashi in 1736, “BAN” (Shivling) was consecrated. After constructing Omkareshwar temple, Shivram Bhat took Sanjeevan Samadhi at Someshwar Temple at Pashan, Pune on Thursday 15th April,1751 ie. Chaitra Vadya 5,Shake 1673. Someshwar temple was also restored by Shivram Bhat which Peshwe had handed over to him. His son Krishna Bhat completed the construction of Ovaries (meditation chambers) around the courtyard, main entrance and Nagarkhana by the year 1758.