The temple is estimated as almost 500 years old. Plenty of stories are found allied to the origin of the temple. According to one story the idol of Mullakkal Devi" was brought here by a group of exiled soldiers from Thekkumkur territory. Primarily they placed the idol in a jasmine garden. Later a temple was constructed in the jasmine garden by the patronage of King Devanarayana of Chembagasery. There is another story popularly known related to the foundation of the temple. It is believed that during the conquest of Kerala by Tippu Sultan of Mysore, a group of Namboodiri Brahmins escaped from Malabar realm taking the auspicious idol of Mata Annapurneswari; the group spotted the Jesmine garden as the place to make the shrine and accordingly acted. Later on the temple was established.Prior to 1961, the idol placed on the main shrine was of Mata Annapurneswari, who was seen ladle in one hand and pot on the other. As her temple was placed in a Jasmine Garden she was given the name Mullakkal Bhagawthy. The idol of Maa was found in the standing pose facing West direction in the temple.In 1961 some incredible events took place. Believers have reported that a mentally unbalanced person entered the sanctum sanctorum and all on a sudden embraced the idol. Afterward it was observed that some cracks had settled on the idol’s body. An astrologer predicted that the Goddess had instructed to create a fresh idol to be placed on the shrine instead of the old one. Accordingly, on 16 July 1962 a 4-feet tall Rajarajeswari idol was placed on the shrine replacing the old and damaged one. Later on the idol of Lord Krishna and serpent gods were included and placed on different shrines.