Constructed in the Dravidian style of architecture, the temple is glorified in the Naalayira Divya Prabandham, the early medieval Tamil canon of the Alvar saints from the 6th–9th centuries CE.

According to Hindu myths, Vamana, a Brahmin dwarf avatar of Vishnu, appeared here to quell the pride of the asura king Bali.

The temple is maintained and administered by the Hindu Religious and Endowment Board of the Government of Tamil Nadu.

The Bhagavata Purana describes that Vishnu descended as the Vamana avatar to restore the authority of Indra over the heavens, as it had been taken by Mahabali, a benevolent asura King.

Vamana, in the guise of a short Brahmin carrying a wooden umbrella, went to the king to request three paces of land.

The presiding deity, Ulagalantha Perumal, has an imposing image made of Tharu wood with foot raised.

A chieftain by name Ranakesari Raman reconstructed the whole sanctum with granite as the old structure built of bricks developed cracks.

Another inscription during the regime of Rajadhiraja Chola in 1171 CE indicates the donation of seven kalanju (a measure used in olden times) by a lady for the conduct of festivals of Vaikasi and Aippasi and also for the recitation of Tiruvaymoli sung by Nammmalvar in the temple.

[11] The temple was originally made of bricks, but during the period of Virarajendra Chola (1063–70), a granite structure was developed.

As at other Vishnu temples of Tamil Nadu, the priests belong to the Vaishnava community, from the Brahmin varna.

The temple rituals are performed six times a day: Ushathkalam at 7 a.m., Kalasanthi at 8:00 a.m., Uchikalam at 12:00 p.m., Sayarakshai at 6:00 p.m., Irandamkalam at 7:00 p.m. and Ardha Jamam at 10:00 p.m. Each ritual has three steps: alangaram (decoration), neivethanam (food offering) and deepa aradanai (waving of lamps) for both Ulagalantha Perumal and Poongothai.

[4] Various festivals are celebrated in the temple, with the 15-day Panguni Brahmmotsavam in March–April with Sri Pushpavalli Thayar Oonjal, being the most prominent one.

Other festivals are Purattasi Pavithra Utsavavm, Navaratri, Srirama Navami, Sri Ramanuja Jayanthi, Vasanth Utsavam in April–May, Vaikasi Visaka Garuda Seva, NammAlvar Sattrumurai in May–June, Aani PeriAlvar Sattrumurai in June–July, Aadi Thiruvadipooram, Andal Utsavam in July–August, Avani Sri Jayanthi, Uriyadi utsavam in August–September, Aipasi Mudalazwar Sattrumurai, Sri Manavala Mamunigal utsav in October–November, Karthikai Kaisika Ekadasi, Tirukarthikai in November–December, Margali Rapathu, Pagal Pathu and Vaikunta Ekadashi in December–January.

[4] The temple is revered in the Naalayira Divya Prabandham, the 7th–9th century Vaishnava canon, by Tirumalisai Alvar in one hymn.

With a view to maintain the continuity of light, he instantly composed hundred songs wishing the earth to be a big pot full of ghee like an ocean where the Sun could be the burning wick.

[12][15][16][17] Tamil வையம் தகளியா வார்கடலே நெய்யாக வெய்ய கதிரோன் விளக்காக - செய்ய சுடர் ஆழியான் அடிக்கே சுட்டினேன் சொல் மாலை இடராழி நிங்குகவே என்று Transliteration Vayyam takaliyā vārkat̬ale neyyāka veyya kat̬irōn vilakkāka - ceyya cut̬ar āḻiyān at̬ikke cut̬inen col mālai it̬arāḻi ninkukave enru

Deeming in the world as lamp; the full sea as ghee, the fierce-rayed sun as a luminous wick, I have twined a garland of speech for the feet of Him who wields the red flaming discus so that there may be freedom from the ocean of misery.

[15][19] The temple plays a special part in Sri Vaishnavism as it is where the first three Alvars sang the first three Thiruvandadhis compiled in Naalayira Divya Prabandam, the Vaishnava canon.

It is believed that Avvaiyar, the celebrated Sangam period poet, arranged marriage for two chieftains at this place.

Poet Kapilar is believed to have found suitable grooms for king Pari's daughter Angavai and Sangavai at this place and set himself up in fire.

The event is commemorated every year in a huge rock called Kapilar Kal, where a small shrine exists even in modern times.