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Inaugurated on Shri Tapovan Jayanti in January 1963, Sandeepany Sadhanalaya was established as, and remains, a Vedanta institute dedicated to the intensive training of future monks, acharyas, and sevaks of Chinmaya Mission. Sandeepany in Mumbai was the first of many institutes formed by Swami Chinmayananda, who personally taught Chinmaya Mission's very first Vedanta course.

The ashram (pronounced 'saandeepanee saadhanaalaya') is named after Rishi Sandeepany (pronounced 'sandeepanee'), the guru of Lord Krishna. 'Sadhanalaya' means the abode of sadhana, or spiritual practices. A rare and serene oasis in Mumbai's busy metropolis, Sandeepany is a natural, picturesque home away from home.

Exquisitely situated on a hill overlooking Powai Lake, it is only 20 km from Mumbai's buzzing city life. In the late 1950s, Mrs. Tara Sarup, a devotee of His Holiness Swami Chinmayananda, donated seven acres to build the ashram. Tara Cultural Trust (TCT), which administers the ashram, was registered in January 1960.

The Sandeepany ashram can presently provide residential accommodations for over 250 people. Visiting acharyas and devotees stay in one of the three large hostels or the seven-storey 'Chinmaya Vihar' residential building.

All classes are normally conducted in the ashram's main lecture hall, 'Saraswati Nilayam.' 'Annakshetra' is the ashram's large kitchen and dining hall.