Numerous temples, samadhis, and open shrines are scattered around Walkeshwar. There are kuldevta shrines located inside homes and protective deities are placed in wall niches and over doorways. Stone relics collected from the older Walkeshwar Temple are assembled under the shade of the sacred peepal tree.
Banganga Tank is located on the western fringes of Malabar Hill, close to Raj Bhawan. The neighborhood around Banganga Tank is the oldest continuously inhabited region in Bombay, a site of great spiritual significance to Hindus. For centuries, the Walkeshwar Temple and the now destroyed Shri Gundi stone at Malabar Point gave sanctity to the hill from a very early age and remains a site where devotees still throng.
The north end of Banganga Tank has a collection of stone relics. They commonly depict a horse and rider, its features hidden under a thick layer of vermillion smeared by worshippers. What the stones represent or where they were sourced from remains unknown, though it is likely they are memorials erected for warriors who died in battle.
Banganga tank is fed by a natural spring located at the northeast corner. It is beleived, this is the point where Lord Rama shot an arrow (bana) into the ground, thereby releasing the waters of the underground Ganges (Patalganga), hence the name Banganga. The water that emerges from the spring is considered pure and used in Hindu rituals.
Ghats serve multiple purposes, both religious and secular, and is a hub of activity during Hindu festivals like Shivratri, Ganesh Chaturthi and Diwali. Pilgrims use Banganga tank for bathing, to perform suryanamaskar at dawn, and idol immersion. Before piped water was made available in homes, Banganga tank was the main source of drinking water.
Banganga Tank has several legends associated with it, and they have diverse origins. With the passage of time, memories of local incidents have been intertwined with these origin myths. One such prevailing story is how the original lingam at Walkeshwar Temple was lost to the sea to avoid desecration by mlecchas (referring to Muslim and Christian rule under the Gujarat Sultanate and the Portuguese). Based on this belief, on the day of Mahashivratri, the Koli fishing community venture out to sea to offer prayers to the vanished lingam.