Pallipuram Agraharam is in the heart of Palakkad town is a settlement of Vaishnavites.. The Lakshmi Narayana Swamy temple in the agraharam is one, believed to be constructed by the immigrants who came here presumably 700 years ago. Inside the prakaram of Lakshminarayana Swamy temple, Poorna-Pushakalamba sameta shri Hariharaputra ( Ayyappa) sannidhi and Naga prathishta was also built years ago.

Pallipuram agraharam is the oldest Brahmin settlements reportedly 7 centuries old and belongs to the  Vaishnava Sampradaya. The customs followed are as per Vishista-Advaita philosophy.  The natives  of Pallipuram agraharam  pay obeisance to the Acharyas of Ahobila Mutt and adhere to Srirangam Panchangam traditions.  Every ceremony begins with Narayana Prityartham and the rituals are dedicated to Lord Narayana.

The ancestors of Pallipuram Agraharam  belonging to Vadama subsect migrated from Narmada basin to Tamilnadu and then to Kerala around 700 years ago. The Agraharam Temple upholds Vaikhanasa Agama customs  and the  presiding deity of the Temple is Shri Lakshmi-Narayana, where Goddess Lakshmi  is seated on Shri Narayana's left lap and Garuda stands opposite the garbhagriha. Jalapratishta is unique to this presiding deity,  ie,  the deity is installed on a water bed. 

The temple is unique in its construction because the rising sun's rays on the mEsha Sankramam Day, falls on the lotus feet of the Deity. The unique "jala Pradhishta" of the murthy might have been done realising the difficulty in providing a sea bed to lord Narayana. The Deity is in a sitting posture with Mahalakshmi seated on the left lap". Kodiyettam for ( flag hoisting in Dwajasthambam) begins on the first day of mEsha sankramam ie on Vishu. And Rathotsavam is celebrated on the 9th day.

 As the pratishta faces  east, rising sun rays on Mesha 1st  fall directly on the Lotus feet of Lakshmi Naryana.

"Legend says that centuries ago when the village houses had thatched roofs, there were frequent fires and the villagers were put to lot of hardships. They did not know what to do and decided to perform Sahasrannama japam for a mandalam period at Brahma Muhoortham after taking holy bath in the temple tank. During the course of the parayana, one of the villagers suddenly got inspired and said " to remedy this fire havoc, go to kurichimalai (2 kms away from Pallipuram) and bring the idol of Lord Ayyapa which is visible on the foot steps of the hill and install the idol on the right side of Lakshminarayana Swamy inside the prakaram." The villagers immediately rushed to the spot and found the idol and installed it".

Here Ayyappa is worshiped as Hariharaputra along with Purna and Pushkala. Every year in the month of Dec/Jan, the agraharam celebrates ShAshtaprIti (Ayyappa Festival) At the time of main DeepAradhana, the entire Payasam ( 2 different types of Kheer/pudding) is offered as naivedyam.

The Dwajarohanam for the annual Brahmotsavam that begins on the 1st of Mesha concludes with Dwajavarohanam on the  10th day and the  Utsava Murti , Lord Venkatesha and his consorts ; Sri Devi and Bhu Devi  are taken for  procession during the annual festival that spans across 10 days. 

Until 3 decades ago, majority of the settlers were in business, banking in particular.As a result, the agraharam is known for it's hospitality and the Rathotsavam in the month of April and Ayyappan festival feast of the Pallipuram agraharam is quite popular. Majority of the natives lost their land holdings after the Land Tribunal Act.Slowly they began moving out in search of better opportunities.

The annual Shastapriti festival ( Ayyappan festival) falls today. Lord Ayyappa is offered the two payasams ( pudding) as Naivedyam. Thereafter the payasams are served during AnnadAnam.