In the 1830s, a new church was built on the northwestern outskirts of Buguruslan thanks to the efforts of the townspeople and other benefactors. The altar, dedicated to the Assumption of the Mother of God, was consecrated on September 5, 1834. The first description of the church states: "Stone, without a bell tower, with wooden vaults, a dome, and an octagon under the dome. Warm, accommodating 250 people, located in the middle of a cemetery surrounded by a wooden fence. Under the church, there are 256 sq. m of land, and under the cemetery, 16.4 ha. The staff consists of a priest and a psalmist. There is a watchman's lodge by the church."

In the early 20th century, the priest described the church as "a simple chapel, having no appearance of a temple from the outside, and modest and poor inside." In 1909, Priest Nikolai Olersky became the rector. Contemporaries noted that the church transformed: it was expanded, adorned with a new iconostasis and wall paintings, and a stone bell tower was built. In 1915, during a large gathering of people, two donated bells weighing 1687 kg and 1065 kg were raised to the new bell tower.

The Assumption Church was closed in the 1930s and the building was used as a warehouse. In 1946, the church was returned to the faithful, who, under the guidance of Archpriest Alexy Ostroumov, restored it. Services during the repairs were held in the lower tier of the bell tower. In the post-war years, Metropolitan Manuel Lemeshevsky served here several times, accompanied by his cell attendant John Snychev, the future Metropolitan of St. Petersburg and Ladoga.

In the 1980s, due to an increase in parishioners, the church was expanded by adding rooms to the southern and northern sides of the bell tower, harmoniously fitting into the architecture. The iconostasis was replaced, and the old one was transferred to the church in the village of Derzhavina. The church retains icons of pre-revolutionary writing, some of which were painted on Mount Athos. There are also icons from the Pokrovsky Women's Monastery and possibly from other destroyed churches in the city.

The cemetery surrounding the church is an integral part of the temple complex. It is likely older than the church, as the church was originally called the cemetery church. Here lie both commoners and notable individuals. Before the altar, the clergy who served in the church found their rest. The cemetery also preserves crosses that crowned the Church of Archangel Michael, which the faithful protected from desecration.

The Church of the Assumption of the Blessed Virgin Mary is recognized as a historical and architectural monument and was included in the list of monuments of Buguruslan on May 18, 1999. It is the only Orthodox church in the city that escaped destruction during the years of turmoil and has survived to this day.