Peshwa Baji Rao I, prime minister to Chattrapati Shahu, laid the ceremonial foundation of his own residence on Saturday, 10 January 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 that time.