This temple is at Velingodu in Arakkuparambu village of Perinthalmanna taluk, Malappuram district. It is a unique temple which has its sanctum, the path for circum-ambulating the temple and the Namaskara Mandapam in water. Most of the legends of the area are connected with the Puranic story of Mahabharatha. One of them says that the house of Lac that Duryodhana constructed to kill the Pandavas was built at this place. Many of the other places nearby are also connected with the Purana. People believe that a Yogi used to live on top of the hill in Velingodu. During meditation, he had the revelation that the more place where the temple stands today in water has the effulgence of Lord Siva and Goddess Parvathy. So, he used to offer puja to the Arthanareeswara there for the welfare of the local people. The idol here is self-originated and stands in water. The idol is made up of two stones. As the deity is in water, Naivedyam is offered at an elevated place on the southern side. On the day of Sivarathri, the water is removed and Abhisheka is performed at midnight. When the sun shines brightly the idol can be seen in the water. Thiruvalayanadu Bhagavathy and Nagas are consecrated and the effulgence of the Goddess at Thirumandhaamkunnu is also felt here. The temple belonged to the Samoothiri Kovilkam once. Today it is managed by an elected committee. When the temple remained without any rituals, the local people tried to revive it in 1983. In 2007 the structure was rebuilt without losing the look of antiquity. The flag post is also a rare structure erected on a single stone 32 feet in height. The temple, situated in a beautiful natural setting, attracts lots of devotees and people who are attracted by the unique nature of the temple setting.