Gudhi Padva is an important festival & one of the 3½ muhurta (auspicious days)
As per Hindu mythology Lord Brahma, created the Universe on this day & hence it is believed to be the beginning of the Universe.
Therefore, It is an ideal day to start a new business, buy a new house, buy a new vehicle, make an investment etc... So also it is considered one of the best auspicious days for Maunji bandhan (Thread Ceremony), which marks the beginning of Brahmacharya Aashram (Student Life), to get married, which marks the beginning of Gruhastha Ashram (Married Life) and all other religious or cultural rituals.
Gudhi Padva is celebrated on first day of lunar month Chaitra. It is the beginning of the new year Hindu Shalivahan Shak.
On this day Gudhi, a special kind of a flag is erected outside the house. Gudhi also known as Brahmadhwaj (Flag of Lord Brahma) is a symbol of happiness, joy, glory, celebration of victory.
This gudhi is made of about 6-10 feet long wooden stick about ½ - 1 inch diameter. A piece of silk or cotton cloth is tied at one end of the stick, a silver/stainless steel/brass (pot) is placed on the cloth. A garland of flowers & another garland of gathi (sugar cookies) is placed around the pot. A small branch of Kadunimb is also tied. Gudhi is placed on a small wooden plate (Paat).
People get up early in the morning on this day & erect Gudhi in front of the house near the door or through the window protruding outside raising high & visible to others.
It is customary to worship the photo of Lord Ganesh on the front cover page of Panchang (Marathi Ephemeris) and read the astrological predictions (Sanvatsar Fal) for that Lunar Year beginning on First day of Chaitra and ending on the last day. Goddess Saraswati is also worshipped.
On this day a mixture of following elements is prepared and ground to make a homogeneous paste.
Hing , Mith (Salt), Jeere (Cumin seeds), Owa, Sakahr (Sugar), Kadubinb Leaves & blossom. This mixture is very good for health.
After the Pooja a favorite sweet dish is prepared as Naivedya (offering to god). After the sun set, the Gudhi is removed after the worship. Frineds and relatives are invited and offered sweets.