After an elaborate Ashtamangala Prasnam in December 2006, a new temple by the name Kovilvila Bhagavati Temple was constructed in a piece of land adjacent to Pazhaya Sreekanteswaram. This piece of land belonged to Kovilvila L Parukkutti Amma, the wife of Justice K. S. Govinda Pillai. The Guardian Deities of the tharavad - Kalari Bhadrakali, Meru Sreechakram, and Karanavar - were duly installed by the Tantri Thrippunithura Puliyannoor Murali Narayanan Nambuthiripad on 21 March 2008. One-hooded Nagaraja, five-hooded Nagayakshi and Chitrakootam were installed by Amedamangalathu Vishnu Nambuthiri on the next day.