The Naranag temple is one of the important archaeological sites of the country. The site consists of a cluster of temples facing each other at a distance of about 200 meters. Historians say that the temple is dedicated to Shiva and was built by Lalitaditya Muktapida, of the Kayastha Naga Karkota Dynasty in the 8th century AD. It is believed that the king Awantivarman paid a visit and donated a pedestal for bathing at Bhuteshwar ("Bhutsher").br br It is also believed to be dedicated to the ancient Nagas. Hence, the name "Naranag". It was built by the Naga Karkotas, who are said to be Hindu Kashmiri Kayasthas of the Naga sect, known for their reverence of serpents. They used to stay here and do their sadhanas.br br Kalhana notes in Rajatarangini that Ashoka built the city of Srinagar in the 3rd century BCE. His son Jaluka, 220 BCE, built the Shaivite temples Bhuteshvara, Jyestarudra, and Muthas in the Wangath valley around the holy spring of Naranag. The Wangath temples were built in three groups, around the same time as the Shankaracharya Temple in Srinagari and the Bumazuv temple near Mattan. King Jaluka built a stone temple at the site of the spring Naranag around 137 BCE. King Jayendra (61 BCE) used to worship Shiva Bhutesha at the shrine. Lalitaditya Muktapida (713–735 CE) donated a good sum of money to the shrine after his victorious expedition. King Avantivarman (855–883 CE) built a stone pedestal with a silver conduit at this shrine for the bathing of sacred images. Kalhana's father Canpaka and uncle Kanka also frequented the site.br br As per Kalhana, the treasury of this shrine was plundered by King Sangramraja of Kashmir (1003–28 CE), during King Uccala's time (1101–1111 CE) and later by the rebel baron Hayavadana.