This fair has a religious and folk importance.
The fair is organized with high festive spirits as the celebrations are marked by the grand procession with devotees carrying the holy deity in a palanquin. 60 parties of drummers from different parts of Karnataka also accompany the holy procession.
There are many religious beliefs associated with the Sri Vithappa fair like turning of milk (brought for offering) into curd before offering to god is considered a good omen.
Another trait related with the fair is the collection of grains from bag kept in the temple by a person from Chunchanoor village during the fair. It is believed that if these grains are sowed into the farms then will result in rich yield for that very year.