Historically, Jains from Kutch & Saurastra used to come to Cochin, Kozhikode and Alleppey for business. This temple was built in 1904 CE (VS1960) by Hirubhai Jivraj Dhanji constructed this temple in memory of her husband Jivraj Dhanji.

This temple is one of the major Jain pilgrimage site of India. The temple is beautifully tiled with white marble and adorned with artworks, sculptured pillars and idols of Tirthankaras. The mulnayak of the temple is an idol of Dharmanatha, the 15th tirthankara. The temple architecture is inspired by the Jain temples of Gujarat. There is another Jain temple dedicated to Chandraprabha within the temple complex.