The Guntupalli Caves date back to the 2nd century BCE, with the earliest structures belonging to the Hinayana school of Buddhism. The site saw further additions and modifications during the Mahayana phase, indicating a prolonged period of Buddhist activity. The caves served as a monastic complex for Buddhist monks. The rock-cut stupa at Guntupalli is particularly notable as it's one of the oldest examples of its kind in South India. The site's significance lies in its representation of the evolution of Buddhist art and architecture over centuries, reflecting the religious and cultural landscape of ancient Andhra.