 A sadhu named "Sri Satya Theertha" who was of the same lineage as Thotakacharya, came to Shakatapuram about six centuries ago and established the "Shri Vidya Peetam".An idol of the Hindu God, Lakshmi Narayana was brought by "Sri Satya Teertha" from Badarinath and installed at Shakatapuram.This is the presiding deity of this place.