Option 1: Godavari - This river originates in the state of Maharashtra, but not near Mahabaleshwar. It is primarily located in the eastern part of the state.
Option 2: Krishna - This is the correct answer. The Krishna River originates near Mahabaleshwar, which is located in the Western Ghats of Maharashtra. It flows through Maharashtra, Karnataka, Telangana, and Andhra Pradesh, eventually emptying into the Bay of Bengal.
Option 3: Kaveri - The Kaveri River originates in the Western Ghats of Karnataka, near Talakaveri. It does not start near Mahabaleshwar.
Option 4: Tapti - The Tapti River originates in the Satpura Range in Madhya Pradesh and flows through Maharashtra and Gujarat. It does not have its origin near Mahabaleshwar.
Therefore, the correct answer is option 2 - Krishna.