Tulshi Baug gets its name from the Tulshibaug wada a famous temple of Lord Ram, Ganpati and Shankar, that is located in this region. This temple now also holds statues of Lord Hanuman, Ganpati and Parvati. These statues are decorated with ornaments of Gold, Silver, Pearls and Diamonds. This is all under the main structure of Tulshi Baug Ram Temple. The precinct also contains a large wada north of the temple, placed for housing the heirs of Naro Appaji and many other small temples for other gods as well as single ones for Lord Hanuman and Ganesh.
The original temple was built during the Peshwa era, soon after the battle of Panipat in 1761, under Naro Appaji Khire who was the Subhedar of Pune Work. The temple's construction began in 1763 and was only completed in 1795. In total is spreads over an acre.