This Vihara or Yi-bahi situated across from Yampi Stupa is said to have been built by a Buddhist convert Brahmin scholar named Shunyashree in early 9th century A.D. A very old Buddhist tradition in Patan to this day honours this Bahi or Monastery as a most important Guru Monastery. The Buddhist community in Patan still holds a custom which requires every Buddhist monastery organizing important festivals like Samek and Noran to extend the first invitation to this Bahi or Vihara. This tells us a lot about the historical significance of this Vihara.

The history tells us that this place in ancient times had great reputation for being the most important center of learning Buddhist philosophy and religion in Patan then known as Lalit Pattan.
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