Early European visitors to Walkeshwar mention the site as a 'Brahmin village'. The ghats surrounding Banganga Tank are maintained by the Gaud Saraswat Brahmin Temple Trust. The materials required for performing ceremonies, like flowers, incense, and coconut, are arranged by hereditary Brahmin priests from diverse communities living at Walkeshwar for many centuries. They conduct a variety of Hindu rituals like thread ceremonies, childbirth, marriages, cremation rites, morning and evening libations, and offerings of pitripujas and shraddh.
Towering skyscrapers built on Malabar Hill overlook Banganga Tank. In the 18th century, the hill was densely forested and visited only by Hindu pilgrims and Malabari pirates. Later, in the 1880s, the British Governor shifted Raj Bhawan from Parel to Malabar Hill and the neighborhood has since been one of the most sought-after real estates in Mumbai.