Peshwa Baji Rao I, prime minister to Chattrapati Shahu, king of the Maratha empire, laid the ceremonial foundation of his own residence on Saturday, January 10, 1730. It was named Shaniwarwada from the Marathi words Shaniwar (Saturday) and Wada (a general term for any residence complex). Teak was imported from the jungles of Junnar, stone was brought from the nearby quarries of Chinchwad, and Lime (mineral) was brought from the lime-belts of Jejuri. Shaniwarwada was completed in 1732, at a total cost of Rs. 16,110, a very large sum at the time.
The opening ceremony was performed according to Hindu religious customs, on January 22, 1732, another Saturday chosen for being a particularly auspicious day.
Later the Peshwas made several additions, including the fortification walls, with bastions and gates; court halls and other buildings; fountains and reservoirs. Currently, the perimeter fortification wall has five gateways and nine bastion towers, enclosing a garden complex with the foundations of the original buildings. It is situated near the Mula-Mutha River, in Kasba Peth.
Despite its cultural value the fort is not maintained well by the Government. Its inability to maintain the historical Shaniwarwada from the funds provided by central archaeology department forced the fort’s advisory committee’ to woo business houses to fund Shaniwarwada’s makeover.