In 1960, after the passing away of Shri Gurudev Ranade (3 July 1886 – 6 June 1957), a Trust titled ‘Shri Gurudeo Ranade Paramarth Mandir’ was formed in the honour and remembrance of Shri Gurudev under the initiative of the late Shri Bhaurao Apte (Retd. Dist. Judge, Jamkhandi).

The Trust was registered with the office of the Asst. Charity Commissioner Belgaum under Reg. No. A 1716 Bijapur. The Trust office was housed in the very residential house where Shri Gurudev was born and where he grew and studied. The house was initially taken on a rental basis and in 1976, the Trust purchased it. The old structure of the house was modified into a prayer hall; the room where Shri Gurudev studied and the other room where his mother meditated were preserved. A regular daily programme of Meditation, Bhajan, Aarti, Dasabodh pothi reading and weekly Pravachan was introduced. An annual Meditation Saptah during the period Jun 29 to July 3 which marks the birth anniversary of Shri Gurudev was also started. Disciples from Mumbai, Pune, Solapur, Bijapur, Hubli, Bangalore and other distant locations continue to participate in this ‘Jayanti Saptah’.