Here is the description of the Walkeshwar Temple from K. Raghunathji, The Hindu Temples of Bombay, 1895:
TEMPLE NO. 26.VALUKESHWAR’S TEMPLE.
This temple of Valukeshwar or the Ishwar or Lord of Valuka or sand, or the Lord God of sand, is situated at the extremity of the Malabar Hill. It was rebuilt, it is said, about a hundred and fifty years ago by one Ramji Kamat, Shenvi by caste, as the original temple had been demolished by the Mlenchas, but who these Mlenchas were, whether Mahomedans or Portuguese, is not known. It is built of cut stone masonry, and has a tall dome with a patak or flag attached at the top. It is divided into sanctuary and a Sabhamandap. The former is of square shape, being twenty-four feet by twenty-four feet, and has its floor paved with marble slabs; the latter is about fifty feet in length and about twenty-feet in width. Silver plates are fixed all over the shutters of the entrance door of the sanctuary. The door, as well as the marble flooring, is the gift of one Vasanji Devji Bhatya. The circumference of the space reserved for walking round, measures about seventy- five feet.
The Pindi or the Emblem of Mahadev is self-existing. It is the same which Lakshuman brought from Benares at the bidding of his brother Rama, the hero of the Ramayana. Valukeshwar is also called Lakshumaneshwar. The height of the Pindi is about three-fourths of a foot. Near it there is an image of Ganpati made of marble, and before it there is a square-shaped marble makhar in which an image of Parvati is set up. This image is four-handed, and is represent- ed holding in one hand a lotus, and in another a conch shell or shank the remaining two hands being left hanging downwards. On its head there is a crown or mugut and a white robe forms its garment. Its height is of about a foot and three inches. The image of Ganpati alluded to above. is about a foot and a half and has a mugut on its head. It is four-handed; one hand is represented as holding a parashu or battle-axe, another an ankush or trident, the third a rosary or mala, and the fourth a cup or vati, containing modals or sweet balls.
A Gujarat Brahman and a Shenvi Brahman are employed to perform the worship of the above images, and the worship is performed thrice a day. Daily early in the morning the Kakad-arti is performed. Worship is also performed in the morning, noon and evening, when the nagara drum is beaten and the bells rung. At mid-day mahanaivedya or cooked food is offered. Besides the two Brahmans there is also a Gurav or Bhopi, whose business in the temple is to watch the Pindi be- fore worship, to keep the temple clean, to look after its furniture and to make lights therein when necessary. He is allowed to receive the whole income of the temple on condition to pay the owner so much a year and to keep the rest for himself for his trouble. The expenses of the temple are de- frayed from what its owner receives from the Bhopi. A nandadip or a lamp is kept constantly burning near the Pindi.
During the hot season of the year a pitcher or galti of water is suspended above the Pindi, having a hole at the bottom through which water falls down either in a continuous drops, drop by drop, over the Pindi. The Pindi has a brass Kavach or covering on it, and is set up on the coiling of a stone serpent. A brass serpent is made and put round the Pindi. There is a stone Nandi in the sabhamandap facing the sanctuary door and about twenty-seven bells hung up in the temple.
The whole month of Shrawan is the Utchav month in this temple, when daily the Raghurudra abhishek is performed over the Pindi. The number of visitors then is abnormally large.
A Jatra or fair is held at Valukeshwar on the full moon of Kartik (October-November). It is also held on the Mahishivratra day. Shops of toys and sweetmeats are opened. Full light is made in the temple on this occasion, as also on that of the other Jatra day. On these occasions the Palkhi procession takes place attended by all kinds of native music. The Pindi is decked with ornaments. These fairs are of long standing; no one is able to say who commenced them and when.
The number of visitors on each week-day, except Monday, about a hundred. On Mondays it is larger. On the Shivratra, Vaikunth Chaturdashi and Kartiki Purnima days, it is be- tween a thousand and a thousand and a half; and on the Jatra or fair days it is upwards of five thousand.
The legend regarding this sand-made god is as follows:- When Rama was on his way to Lanka by the sea-coast in quest of his wife Sita who had been carried away by Rawan with diabolical intentions, he halted at Bombay just on the spot where the temple now stands. The Brahmans who had been sitting there on the seashore for a long time making tapas- charya happened to hear of Rama’s arrival. Among them. there was Gaotam Rishi. They therefore went to Rama. to take his darshan. They, however, found him sitting in a disconsolate condition, The Rishis inquired of the cause of his distress. Rama told him the same, and asked him what he should do to regain his wife from such a powerful giant as Rawan. The Rishis advised him to perform the worship of Shri Shankar who alone would make his attempts successful. Rama begged to know how to perform that worship. Upon this the Rishis told him to get out from Benares the best sort of Shiva Ling and to perform its full or panchamriti puja. He then desired his brother Lakshuman to go to Benares to get a Lingam of the sort required, and he forth- with left for the place. Gaotam Rishi asked permission of Rama to depart, when Rama entreated him to stay until the Lingam was brought, for there was no one so qualified to assist him in the worship as himself. The Rishi replied that as Lakshuman might take a long time before he returned you had better make with your own hands a Lingam of good sand there. Rama accordingly did so and the Rishi and other Brahmans helped him in performing the pranpratista or the life-creating ceremony over the same sand-made Lingam. Upon this Shri Shankar actually appeared before Rama and pronounced upon him a benediction to the effect that he would soon gain the object he was in quest of. Not long after Lakshuman returned from Benares with the Lingam he was commissioned to bring from there. This Lingam is the one now seen and worshipped in the temple, whereas that made of sand by Rama jumped into the sea on the advent of the Portuguese into Bombay, lest it might be polluted by them. The place from where it left is not far from the Government House at Malabar Point. Certain fishermen know the exact spot. On the Máhishivratra day they go there and perform its worship according to their own way of doing it.
Before this temple there is a large deep tank built of cut stone with a flight of steps called Banganga from ban an arrow and ganga a sacred stream, produced by means of an arrow. The legend regarding this tank is as follows:- During his sojourn at Valukeshwar, while on his way to Lanka to recover his lost wife, Rama felt thirsty but could find no water to drink. He therefore darted an arrow. It went down deep into Patál the region underneath the earth. Through the hole created by the arrow the river Bhogavati running in Patal flew upwards. Hence Banganga is also called Patalganga. Rama drank of the water, and felt greatly refreshed. The tank is considered holy, and purifying rights and atonements-particularly the ceremony attendant on the shaving of the heads of women after their husband’s death- are therefore performed by the side of it. Bathing in it is considered as bathing in the Bhagirthi itself. Hence both men and women resort to it for the purpose on the Somavati Amavasya day, Mahishivratra day, Eclipse days, Kartiki, and Ashadhi Ekadashi days and Pithori Amavasya day.
In support of this the Purans declare that bathing in the Banganga procures sanctification and regeneration of the souls. They cite an instance which is that there lived a man about this place who spent his whole life in wickedness. He had at one time an occasion to pass through a wilderness and while so passing he was killed by a tiger. Some portion of his flesh was picked up by a Kapot which few into the air with it. A kite seeing this pursued the Kapot who, for the safety of its own life, dropped the flesh accidentally, which fell into the Banganga. Shri Shankar upon this directed his duts or messengers to send a vimán down on earth to fetch therein the soul of the man into Shiva’s heaven or Kailas forthwith, lest the duts of Yama might carry him to the region of hell, for he added as the man’s flesh has been washed by the waters of the Banganga he must live in the Shivalok. He was accordingly carried in the vaman into Kailas.
Another account of the origin of this Banganga Tank is this:- Parashuram, the sixth incarnation of Vishnu, had at one time an occasion to shoot fourteen arrows from the top of the Sahyadri mountains, one of which fell on the spot where the tank stands and produced the sacred water there.
To the north-west of the Valukeshwar Temple there is another sacred tirtha or water called the Savitri tirtha, but as yet no one seems to have attempted to trace the same. That it is there the Purans assert with a degree of certainty. Towards the seashore there is a rock with a cleft therein. Hindus look upon that cleft with a religious eye. They believe that if they pass through it they save their souls from perdition. Shivaji Maharaj is said to have passed through it.
Near this temple there is another, in which the images of Lakshumi and Narayan are set up. Lakshumi is about a foot and a quarter high and Narayan about a foot and a half high. Both these images are made of marble, and their consecration ceremony was performed by the Shenvi community. This temple is about seven feet in height and about twenty feet in width, and the space reserved for circumambulation purposes is about ten feet in circumference.
The likely location of the original temple may have been at the far right in this picture: