The temple is extensively popular and devoted towards Goddess Laxami, the goddess of wealth. The temple holds huge importance as it is the first Hindu temple to be erected in Goa. The place where the temple is constructed is called village of Taleigao. The festival of Maruti Jatra festival is held in the months of January and February at the Shri Mahalakshmi Temple where a large number of pilgrims congregate at the temple to experience the gleeful festivities. The pilgrims come here in the search of true peace and real contentment.