It is hidden away behind the recent houses on the South east of the square; so one can easily miss the square’s 3^rd interesting temple, Teel Madhav Narayan displays all the iconography of a lord Vishnu temple: a glided Sankha (conch), Charka (wheel) and Garuda are all hoisted on pillars out front in a manner clearly imitating the great temple of Changu Narayan. Although the place was in use since 1080A.D.The icon were believed to be placed inside the temple only in 1170 A.D.

The open courtyard of the temple is used for the sacred ceremony of Ihi-a ritual of young Newar girls being wedded to lord Vishnu.