The Sarangapani temple is considered second to SriRangam temple. The Vaideeka Vimana here is considered an offshoot of the Sreerangam Pranava vimanam, and a replica of that vimanam presented to Vibhishana by Rama. It is built like a chariot with wheels drawn by horses and elephants, and is grander than the Melakkadambur temple built by Kulottunga I (early 12th century).

This vimanam has two gateways, the northern gate or the Uttarayana vaasal, opens on Makara Sankaranti, and the Dakshinayana Vaayil, opens on Aadi perukku, the 18th day of the tamil month of Aadi.

Although the temple existed during the Pallava period, the current structure belongs to the Vikrama Chola period (1121 onwards). Later Cholas built the superstructure of the 11-tiered gopuram, and the Vijayanagar rulers completed the tower. The tower is 140 feet in height. It contains sculptures depicting Bharata Natya positions on the first tier of the Gopuram, where in other temples they are seen on walls. On the banks of the Mahamagam tank, there are several mandapams built by Govinda Deekshitar - minister of the Nayaks of Madurai.

Legend: There was a deluge after the Dwapara Yuga; a pot of nectar and the seeds of creation were placed in a pot and set adrift. The drifting pot settled at Kumbhakonam; and Shiva as Kiratamurthy, pierced the pot with an arrow, and spilt the nectar. The bulk flowed into the Mahamagam tank. It is believed that all river Goddesses live in this tank. The remaining nectar was mixed with sand, and a lingam was created representing Aadi Kumbheswarar. Bhrigu muni entered Vaikuntham; and kicked Vishnu on his chest, at not been recognized. Lakshmi left for the earth and settled on the banks of the Kumbhakonam tank. Bhrigu muni was reborn as Hema Rishi, and offered penance; Lakshmi was reborn as his daughter, in the Mahamagam lotus tank, and he offered her in marriage to Sarangapani. Vishnu, bears the sarangam bow in his hand.

Festivals: The first day of Uttarayanam witnesses the silver chariot procession. Bhramotsavam is celebrated in Thai and Chittirai, and Vasantotsavam in Vaikasi. Also celebrated are the Pavitrotsavam in Ani, Navaratri, Pankuni Uttiram, Maasi Magam, and the Dolotsavam in Margazhi.