The temple is believed to be built in the thirteenth centuary. Prior to this period the peoples of Peralam worshiped the Vereekara Baghavathi originated at Pothi Nivarnna Kundu in Vereekkara Kavu 2 kms near Peralam. Kakoprath Nair family established the temple near the Naga Kavu and started worshiping Vereekara Baghavathi at Peralam. The good old legends says that two sisters of Nelliyot Desam ( Near Thaliparamba , Kannur) along with their husbands on their pilgrim journey visited Peralam Temple. They got some divine intuition that the Goddess of Nelliyot, Sree Nelliyot Bhagavathi accompanied them . The Kakoprath Nair took care of the couples, directed to stay at Peralam as Samanthans and Nelliyott bagavathi was worshipped thereafter at Peralam. Goddesses with equal importance Vereekara Baghavathi (Bhadrakali ) in North Nada and Nelliyot Bhagavathi (Durga) in East Nada blessed the peoples of Peralam and nearby villages.
The wood craft works and mural paintings in the temple with historic importance still attract thousands of people. The Aarat Kulam which is 200 meters North-East of the temple compound is also having the age of the temple. Its construction is quite amazing but the pond is to be renovated to get back its beauty and purity. The Aarat during Pooram is done in this pond.
The Kshethra Kulam (Pond in front of temple) is believed to be built 200 years back by Thekke veetil Koman Nambiar. He has also done some repair works to the temple and built a Thanneer Panthal to give free butter milk to Pedestrians crossing the Peralam village. Still the young generation keeps a pot full of water near the Thanneer Panthal.
The ancient roofing tiles of the temple are replaced in 1940s. And no major reformation to the basic structure was done. The renovation programs first phase was started in 1992 and Agrasala and Kottaram were rebuilt at Peralam and the Moola Kshethram at Vereekara Kavu is renovated at best.
Now the Peralam Temple renovation programs are going on with the full hearted participation of devotees including new generation of Kakoprath family.