Banastarim is situated at about 16 kms from Panjim and 12 kms from Ponda in Goa. It has a government school and a sports club. There are three temples in the area as the village shares a large hindu population. However the village is mainly known for its market which starts filling from Thursday evening and get full by Friday morning every week.

Banastarim is also known for the Meta Bridge. The bridge in Banastarim sometimes called the Banastarim Bridge is an important link to the Tiswadi and Ponda taluka as well as to the Mandovi River. Major of the West Side of Banastarim is surrounded by the river.