The Swarnavalli Matha, about 16 KM away from Sirsi, located on the bank of Shalmala, being surrounded by areca and coconut gardens, ever green forests, hillocks, valleys, paddy fields, rivulets and a number of historical monuments-Mathas, temples, tanks, fort, stone inscriptions, etc. Eventhough the Swrnavalli Matha came into prominence,eversince Arasappa Nayaka II, the king of Swadi, got erected the Swarnavalli Matha in Honnehalli grama and granted the same to Chandrashekhara Saraswati of the Sahasralinga Matha.
In the 9th century A.D Vishwavandya Saraswati was ordained sanyasa and installed as the first guru of the Matha at Dashashwamedha Ghat in Kashi, by Bhaskarendra Saraswati , one of the prominent disciple of Adi Shankaracharya. The sanyasa Parigrihana took place in the presence of Adi Shankara and Vishwavandya was blessed by the Acharya. The Shri Matha , during different periods, was shifted from Kashi to Ujjaini, Ujjaini to Gokarna, Gokarna to Kadtoke, Kadtoke to Sahsralinga, Sahasralinga to the present Swarnavalli , respectively.The Guru-Parampara from Vishwavandya Saraswati to the present Gangadjarendra Saraswati , the 54th in the illustrious line, is an unbroken line of succession. King of Kashi ,emperors of Vijayanagara, Vikramaditya of Ujjaini, and Kings of Swadi during their respective reigns , made land and other endowments to Swarnavalli Matha, protected the grants made by their predecessors , extended warm reception to the gurus. And later Tipu Sultan and British continued to honor the rich traditional heritage of the Matha.
It is noteworthy that Yativaryas (ascetics) of this Matha take to Sanyasa from the State of Brahmacharya (continence) only, i.e. they belong to and strictly observe the true tradition of Shri Adi Shankara. Further, they are known for their penance and devotion.