While travelling from Mumbai to Pune, this temple is located in Mahad on the transit way. This temple is known to be among the eight holiest shrines of AshtaVinayak in Maharashtra. The temple is devoted to Lord Ganesha and the temple celebrates a very famous legend here. It is believed that a ruler named Rukmangada once visited a Rishi or scholar named Vachaknavi. While the king visited, the spouse of the Rishi named Mukunda was attracted to the king. When the king knew about it, he refused her and left her in rage.

At a moment, the king of all gods, God Indra came down to earth in the cover-up of King Rukmangada and he accepted her affection which left her with an unlawful son Grutshmadha. After the son grew older and came to know the incident behind his birth, he prayed to Lord Ganesha to forgive the sins of everyone involved in the unlawful act. Hence, Lord Ganesha heard his prayers and granted him his wish by Varadavinayak of Mahad, which was earlier known as Bhadrakavana.

This temple has the shrine of Varadavinayak seated on a throne that faces east. The shrine is placed along with the stone images of his consorts Riddhi and Siddhi. It is said that the temple has a lamp that has been glowing uninterrupted for about over a 100 years.