Datable to ancient period, it is one of the 108 Durga temples. The legend says that the main idol was of the Goddess installed by Lord Parasurama. It has been believed that Khara Muni (sage) spent a long period on the banks of the temple tank in meditation. He could propitiate Lord Siva and a swayambhoo idol appeared before him. He also installed an idol of Lord Vishnu. Thus, the temple is famous for centuries as a great place of worship. As per the myth the Goddess takes bath in the temple tank at night and sits at the namaskaara-mandapam for prayer.

The temple was earlier owned by the following manas: Eravimangalam, Mundarapilli, Kossheri, Keerambilli and Kottampilli. As they found it difficult to manage the temple, it was taken over by Cochin State. When the Cochin Devaswam Board was formed in 1950, its administration was vested with them. It is now administered by the Ashokeswaram Devaswam.

It is believed that Sakthan Tampuran used to take his bath in the pond of this temple while he was living in disguise at Maliyekkal Kartha’s house during the tussle between zamuthiris.

The temple owns an extent of about an acre of which, 16 cents constitute the actual area within the chuttambalam. The structures thereon are three Sreekovils, sub-shrines, namaskara-mandapam, chuttambalam, well and tank.

The circular dwi-tala Sreekovil of sandhaara type and facing west, of Goddess Bhagavathi (Sree Karthyayini) has granite mouldings of paadukam, jagathi, vritta-kumudam, galam with Vaajana motif, gala-padi, utharam, galam with flower motifs and padi. The sopanam has four direct steps with vyaali face at the top and motifs on the sides of banisters. The pranaalam has makara-simha face with multi-faceted sundu with rings and go-mukha end. The laterite stone walls have three ghanadwaaras and eight panjaras. The roof is tiled with the central portion open. There is a detached shrine of Lord Ganapati at its southwest, facing west. The namaskara- mandapam (side: 3.72 m.) has four pillars. The well is at northeast of the akathe-balivattam.

At the northern side of the Sree Bhagavathi shrine there is the circular eka-tala Sreekovil (facing west) of nirandhara type for Lord Vishnu. To its north is the circular dwi-tala Sreekovil of sandhaara type and facing west of Lord Siva. This shrine has a swayambhoo idol. At the southwest of the Lord Siva shrine is a small shrine dedicated to Lord Ganapati, facing west.

The chuttambalam, which encloses all the above shrines, has three entrances. The thidappali, which is common to all, is at southeast. There is a valiya-balikkall at its front. The bank is at the southwest corner of the temple complex.

Dwaarapalikas and Dwaarapalakas, carved on granite stones are seen at the front of the Sreekovils of Sree Bhagavathi and Lord Siva.

The main idol of Sree Durga (Karthyayini) is made of sila. It is of standing pose (75 cm) and has four arms with conch and disc in upper hands and abhaya and varada poses for lower hands. The sila idol of Lord Vishnu is of standing pose (90 cm) with four arms having conch, disc, club and lotus in hands. The swayambhoo Sila- linga idol of Lord Siva has a height of 37 cm., while the two sila idols of Lord Ganapati have a height of 30 cm. and 27 cm. respectively.

The temple is open from 5-30 to 10 AM. and from 5-30 to 8 PM. Three poojas are done daily, Usha-pooja at 7 AM, Ucha-Pooja at 9-45 AM and Athazha-pooja at 7PM

Pushpanjali, Paal-payasam and Sharkara-payasam are the main vazhipadu and all are popular.

Thrikarthika, Ashtami-rohini and Sivarathri are observed with special poojas. Sree Bhagavathi also participates in the famous Thrissur-pooram festival and the Sivarathri festival of Sree Vadakkumnathan temple. 

There is a specific order for the participants in the Thrissur Pooram festival starting with Kanimangalam, Chembookaav, Panamukkambilli, Karamukku, Choorakkottukavu, Laloor, Ayyanthol, Naithilakkavu, Thiruvambady, and finally Paramekkavu. As noted above  Karamukku is the fourth participant.

As in the case of other participating temples of Pooram festival, the Kodiyettam is performed on makiryam nakshatram of Medam. Daily sreebali and daily aarattu are performed. On the second day Kharamukku Bhagavathi visits Laloor Bhagavathi, her sister. On the third day, Bhagavathi is taken to Kanimangagalam Kottaram Siva temple for a irakki-pooja and also visits to Eravimangalam and Kossheri Mana. On Fourth, fifth and Sixth days there will be Aarattu, navakam, Sreebhoothabali in the temple
On Pooram day (7th day ) the procession starts at 6 AM. and proceeds to Sree Kulasshery temple via Chiyyaram, Koorkkancheri and Chettiyangadi. 

There also irakki-ezhunnellathu is held. Proceeding from there by 8 AM the procession reaches Manikandan-aal by 8-30 with the accompaniments of two more caparisoned elephants and Pandi-melam. From there six more elephants join and with Pandi-melam proceeds to the Sreemoolasthanam of Vadakkumnathan. Entering Sree Vadakkumnathan temple complex, the procession following pradakshina comes out via southern gopuram and returns to Kulasshery temple. Again at 8:30 PM, with panchavadyam , Bhagavathi proceeds to Manikandan-aal and then to Sreemoolasthanam and Nilapadu thara and after pradakshina returns to Kharamukku temple. On the next day Aarattu is held in the temple tank followed by seven pradakshina of the temple. Finally, kodi-irakkal is performed.

The main idol is believed to have been installed by Lord Parasurama and the other idols by sage Khara. The present thantri belongs to Pazhungaparambu mana. The shantikkaran is appointed from Malayala Brahmins. The other staff includes kazhakam and adichu-tali.

Situated five Kms. south of Thrissur at Valiyalukkal temple junction on Kodungalloor road and thence one km. east, the temple is connected by tarred road up to temple junction and thence earthen road. Facilities for stay are available at Thrissur.