The correct chronological order of the establishment of the given establishments is 1, 2, 3, 4.

Option 1 correctly arranges the establishments in chronological order.

- The East India Association was established first.

- The Poona Sarvajanik Sabha was established after the East India Association.

- The Madras Mahajan Sabha was established after the Poona Sarvajanik Sabha.

- The Bombay Presidency Association was established last.

Option 2 incorrectly places the establishment of the Madras Mahajan Sabha before the Poona Sarvajanik Sabha.

Option 3 incorrectly places the establishment of the East India Association at the last position.

Option 4 incorrectly places the establishment of the Madras Mahajan Sabha before the Poona Sarvajanik Sabha and the East India Association at the last position.

Therefore, the correct answer is option 1.