Earlier known as ‘Shivpuri’, the now Rasta Peth was found in the year 1776. Rasta Peth got it’s name after the memory of late ‘Sardar Anandrao Laxmanrao Raste’ who was a relative of the Peshwa. Sardar Raste constructed a huge building which took 9 years to be completed and was named ‘Raste Wada’. A lot of the residents today belong to the South Indian community. King Edward Memorial (K.E.M) Hospital and Maharashtra State Electricity Board (M.S.E.B) is located in this area. Shiral Sheth chowk and Shiv Temple are famous here.