The temple had first come into existence in the form of Bajana Mandir in the year 1934 with the objective of spreading of the Divine Message of Shri Narayana Guruswamy, the ever great sage and revolutionary social and religious Reformer. It gradually grew in it’s spheres of activities to cater to the social, educational, economic and religious needs of the Billawa Community in particular, and the Backward class in general. In course of tie the Samithi extended it’s programme in all directions and a larger section of the community started taking interest in its activities. Meanwhile, when Shri Gurupraada Swamy, the choice disciple of Narayana Guru, was proceeding towards Udupi during his visit to South Kanara District in year 1941, suddenly his car stopped at Katapady on the road near the Seva Samithi premises and paused meditatively for a new minutes and pointing out to the place prophesied: “This place will become a holy and religious center in the future”. At this stage the dedicated men at the helm of Samithi’s affairs underlined the urgency of one more temple being built for the Billavas besides the one already built at Kudroli Mangalore, Unexpected and instinctively, encouragement and support came from the Barkur Billava Charity Sangha at Bombay. This Sangha helped the Samithi to buy a plot of land preferred and prophesied by His Holiness Shree Shree Swami Guruprasad, at Katapady. The corner stone of the proposed temple was laid on 14th March 1943. From then started the great hunt for money to complete the construction of the temple. Individual donations poured in various forms to procure the paraphernalia for the temple. The temple slowly but surely took shape due to the steadfast patronage of individuals and institutions.
On 16-02-1964 Shivagiri Matadhipathi, Shri Shankarananda Swami had solemnized the “PRATHISTA” ceremony of “Sri Vishwanatha Kshethra” and since then it has been the religious and social centre for the Billawas of the northern part of the district. ‘Prathista Mahothsava’ was performed under able leadership and guidance of late Sri. K.M. Suvarna who was the then President of the Samithi. The Temple would remain one of the fountain heads for the Billawa fraternity, in the years to come.