A religious activity in the temple takes place on a continuous basis throughout the year. It has been comprehended that the site has been named after the serpent king taxak who was worshipped by the name Taxakeshawar by the people of Madhya Pradesh. However, the local resident of the district worshipped the deity of the site by the name Takhaji. The Taxakeshawar share the site for worship with Dhanvantri which is considered to be folk worship in the country. The entire spot where the shrine is located is deemed to be a visual treat for the people who visit the place apart from the religious purposes. The Navali village that can be seen from the spot is also a visual attraction of some sort. The importance of the place can also be comprehended from the fact that it is only site in Madhya Pradesh or the entire nation where one can find the statue of Nagaraja Taxak for worship. Again the statue of Dhanvantari that can be found in this particular site also enhances its importance as a religious place to the subsequent level altogether.
With regard to its mythology, the shrine is considered as one of the most significant in Madhya Pradesh. It offers devotes with the opportunity to worship and adore the deity of Taxaka and Dhanvantari. The Statue of Taxaka that is located within the shrine has seven serpent hoods that protect the same from the topmost direction. Furthermore, it has also been seen that one hand of the statue of Taxaka has human head. Again one side of the statue has his wife while the other side has his son. Historical records suggested that the statue within the site was installed during the time of 12th century which again enhances its importance to a considerable extent. Every year people or devotes from different parts of the state visit the site for the month of Baisakh during Purnima as per the Hindu calendar. It is because of a huger fair during this period that people visit in the large number. The mythological importance of the site can also be comprehended from the aspect that the main temple of the site also has deity of Lord Shiva which is being worshipped on a regular. Hindu visitors are mostly seen to visit the temple throughout the year.
The place depicts the style of art of the 12th century. In front of the site one can see a grand natural water pool where there is variety of fishes. Though this was not made artificially, proper care has been ensured for it over the years. The water in the pool comes directly from hot water spring from an altitude of about 200 feet. The interior and exterior of the structure is deemed to be quite simple with less number of designs and sculptures. The outer part of the temple is tinted in white. Stones and baked bricks were deemed to have extensively used to establish this structure 100s of years back.