The sabha mandap inside Rameshwar Temple has retained the wooden ceiling and timber pillars. In 1934, a local merchant, Lallubhai Tribhuvandas, gifted the marble floor in memory of his wife. Rameshwar Temple was renovated in 2005 by the Indian Heritage Society Mumbai, with funds donated by Narotam Sekhsaria Foundation.
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.
Towering above the Banganga Tank is the weathered shikara of Rameshwar Temple, built in the North Indian Nagara style with amalaka (a stone disc in temple architecture) and kalash (an architectural element shaped like a metal pot with a large base and a narrow mouth) at the summit. Small figures of lions appear on the four sides of the shikara and there is a carving of Lord Shiva as Nataraja on its east face, facing the tank.