Pajaka Kshetra is the birthplace of the renowned philosopher Shree Madhavacharya. The place is believed to be highly sacred and is mentioned in a biographical poem called Sampraday Paddhati, written by Shree Hrushikesha, a disciple of Shree Madhavacharya. Several facts and monuments associated with Madhavacharya are maintained at the kshetra for devotees and tourists to explore.