At a distance of about 3 km. towards the north of Buguda in Ganjam district is Budhakhol, which is a scenic spot frequently visited by tourists and picnickers. Amidst natural surroundings there is a cluster of five temples on the top of a hill, dedicated to Lord Siva, popularly known as Panchu Mahadeva. At the uppermost part of the hill a perennial stream forms a waterfall. A number of Buddhist remains have been found at the place which give the impression that it was a Buddhist settlement in ancient days.
While climbing the hill one can see on the south a very big stone stupa which is called 'Patharakhai'. Not far from the place there are numerous caves one of which is called Siddha Gumpha where Buddhist monks were said to have performed meditation in old days. On the main hill on the south there is the 'Dayana' cave and on the north there is the 'Ashoka' cave. Besides these there are a number of other caves bearing different names.On Sivaratri and Kartika Purnima day a large number of people gather here to offer Puja at the temple.