The town is a prominent center for Jain art, architecture, religion and culture for over 2,300 years. It is a town of ponds and temples. The name of this holy center is derived from the pond called 'bili-gola' (white pond) between two hills. The largest number of rock inscriptions, concentrated at a single center are found here. The temple on the Chikkabetta Chandragiri, known as Chandragupta Basadi is dedicated to Emperor Chandragupta Maurya. Acharya Bhadrabahu and Chandragupta Maurya are said to have meditated at the Basadi. The interiors of the Basadi has small panels that depict the coming of Bhadrabahu and his disciple to Sharavanabelagola. It is atop the larger hill, Vindhyagiri (Indragiri), where the 58 feet statue of Lord Gomateshwara (to local Kannadigas) and Bahubali to the Digambar Jains stands tall; with the 'sky' (dig) as his 'cloth' (ambara). Built by Chavundaraya (Chamundaraya) (982 AD), Minister under Rachamall IV, a king of the Gangas of Talakad, the Gommata, stands tall, and is a true monolithic wonder, which is visible from a distance. The Anointing Ceremony is held once every 12 years.