As per Legends, Sounaka and other Sages went to Sage Suta to know the sacredness of Koteeswara and Siddi Janardhana. Suta started narrating as follows. Sage Narada once went to Lord Brahma to know the Sacredness of Goutami and Kotitirtham and What made Lord Someswara to self-manifest here. Lord Brahma replied him that area of 3 - 4 miles to the South of Kotitirtham and Near Mukteswaram is a very sacred place, and at Goutami and Kotitirtham they all merge in the Holy Vishnu Tirtha, The Brahma Tirtha and Maheswara Tirtha and Rama Tirtha.
Once the benefactor of the Devas, Pundarikaksha performed penance here for years. Ruler of demons, King Bali conquered and started ruling three worlds. Agni, Indra with other Devas approached the Lord at Koti Thirtham. Kasyapa an ardent devotee prayed for the Lord to rescue Devas. Lord Vishnu pleased with Kasyapa prayers and born to Kasyapa and Aditi in his Vamana Avatar. Vamana went to King Bali seeking 3 feet land space. Vamana in his Third step sent Bali to Pathala Loka. Sage Kashyap installed Lord Vishnu here as the Kshetra Palaka.