Jain Temple is located in the western suburbs of the Palakkad Town. The area around the temple is known as Jainmedu. The Jain Temple is made up of granite and is 32 ft long and 20 ft wide. This temple enshrines idols of Jain Tirthankaras and Yakshinis. It is believed that the temple was constructed around 500 years ago for Chandranatha Swamy by Inchanna Satur, a Jain head. The temple is segmented into four divisions, out of which the first division has the idol of Chandranthan. The deities of Vijayalakshmi and Jwala Mohini are enshrined in the second division and the idol of Rishabha Nathan is kept in the third chamber of the shrine. Parshvanath and Padmavathi idols are enshrined in the fourth segment of this temple. It is believed that the main altar of the temple was once home to a community of 400 Jain families. Kumaran Asan, a popular poet, wrote a poem Veena Poovu or the Fallen Flower, at the site. The Thiruvegappura Sankaranarayana Temple lies in the vicinity of the Jain Temple and is believed to have been constructed around the 14th century.