Formerly known as "Parsawanatha Basadi", Guru Basadi has quite a history attached to it. Troubled times resulted in rapid decline in the number of Jain members in the society and abandoning of the basadi. Around the 8th century, a Digambar monk from Shravanbelagola, passing by this basadi spotted a strange sight. He saw a cow and a tiger drinking water from the same basin. Also he chanced upon a calf and a cub suckling the tiger and the cow respectively, forgetting their natal enmity. To calm his roused suspicion, the monk walked to the spot, removed the bushy growth and unearthed a beautiful statue of Bhagwan Shri Parsawnatha Swami cut in stone. This statue was at least a 100 years old. The statue was then re installed at the same place according to the rituals called the Panchkalyana in 714 AD. The basadi was renamed as "Guru Basadi", after the monk who discovered the hidden basadi.
This basadi is much revered since it houses the rich scriptures and texts of Jain religion. "Dhawala", "Jayadhawala" and "Mahadhawala" are found at this place. For their presence "Guru Basadi" is also known as "Siddhantha Basadi".
Behind the idol of the deity one can see 2 serpents, caught in each others embrace with raised hoods, resembling an umbrella held out in a semi circle over the statue. The outer section of the basadi was built in 1528 AD by Chola Shetty, so say the inscriptions. To its left one finds the "Ammanvara Basadi" where there are 3 feet tall statues of 24 Theerthankaras. Installed are also beautiful stone cut statues of Goddess "Saraswathi" and Padmavathi on the either side of the main idol.
The enchanting statue of Goddess "Bhuvaneshwari" is set on a stone structure called Navaranga and is mounted atop four pillars. There pillars are minutely carved with intricate designs of "Sahasradala Kamala" or a lotus with thousand petals.