"We had a memorable time at the wedding. Looking forward to the rest of our lives together," the celebrity couple said in their message after the wedding.
36-year-old Bhupati and Lara, 32, had a specially decorated shamiyana set up for them within the premises of a five-star hotel near Candolim beach on the 16th century fort.
The wedding was out of bound for the media but the sources said it was a grand affair.
Lara, a former Miss Universe, wore a white gown while Mahesh was in black suit, sources said.
Bollywood actors Reitesh Deshmukh, Raveena Tandon, Dia Mirza, Priyanka Chopra, Celina Jetley and Boman Irani and designers Wendell Rodricks and Sheetal Malhar were among 200 invitees who attended the wedding.
There was no confirmation whether Shah Rukh Khan could make it to the wedding. From the sporting field, Rohan Bopanna and Leander Paes along with his wife Ria Pillai were among the invitees.
The couple after registering their marriage in Mumbai had flown to Goa where they had a 'Sangeet' at Club Fresh, a hang out place at Candolim beach, on Friday night.
The Sangeet was an all night affair with Lara and Mahesh themselves dancing to some recent Bollywood numbers.
The five star resort hosting the wedding has offered a menu of Goan food, Sushi and Thai cuisine for the guests.