Talakaveri has a rich history dating back centuries. It is believed to be the birthplace of the Kaveri River, which is revered as a sacred river in South India. According to legend, the river originated from a small pond called Kundike, which is located within the temple complex. The temple is believed to have been built by the Kings of Coorg. Over the centuries, the temple has undergone several renovations and expansions. Today, it stands as a testament to the region's rich cultural and religious heritage.