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Talmakiwadi is an area in Tardeo where the first Co-operative Housing Society of Bombay was established in the year 1915 by Shripad Subbarao Talmaki. The society was named Saraswat Cooperative Housing Society for the members of Chitrapur Saraswat Brahmin (CSB) community who had migrated from Kanara district of Karnataka to Bombay during the early 19th century. The land on which Talmakiwadi stands today was a free-hold estate known as Dubashwadi and purchased for Rs,32,000 by The Saraswat Co-operative Housing Society Ltd.

In 1906, Shripad Subbarao Talmaki also set up The Shamrao Vithal Co-operative Bank Limited to assist needy members of the community with setting up economic enterprises and to encourage savings and creation of funds for financial aid.