The condolence motion was moved on the floor of the House by BJP legislator and writer Vishnu Surya Wagh, who termed the actress as a "legend of Marathi film and theatre world."
"A void has been created in the Marathi film and theatre world after her death," Wagh said.
Assembly Speaker Rajendra Arlekar said Talwalkar had done justice to the world of acting.
"Not just in the film industry but also in the theatre world she would be known for her flair in acting," he said.
The National-award winning actress had acted in films like 'Tu Saubhagyavati Ho' and 'Gadbad Ghotala', where she featured along with noted actors Laxmikant Berde, Ashok Saraf and Nilu Phule.
Talwalkar turned film producer with 'Kalat Nakalat' under the banner 'Asmita Chitra' in 1989. The film won a National Film Awards in 1991. She also ventured into direction in 1993 with the comedy-drama 'Sawat Mazhi Ladki'. Apart from producing six films, Talwalkar produced 25 television serials.