It was founded in the late 18th century by Khot, a Pathare prabhu, who sold plots of land to local East Indian families. There used to be 65 of these houses, now reduced to 28 as old buildings are being pulled down to make way for new skyscrapers.
Houses are made of wood, with a large open front verandah, a back courtyard and an external staircase to access the top bedroom.
Most of the residents now descend from the original inhabitants of Bombay. Recently Gujarathis, Marwaris have moved into the area.
The neighbourhood included the "Anantashram" eatery which was famous for serving authentic Malwani or Konkani cuisine.