Many inscriptions and antiquities are found here. Eminent historian G. H Khare, after studying some inscriptions, had reached the conclusion that the village was an ancient one.

Many of the inscriptions are in danger of being lost. The Archaeological Survey of India has turned a Nelson's eye to this village. Locals claim the village is 1600 years old. Kaundanpur, as it was then known, was a part of Karnataka (present day Karad) province rule by the Chalukyas. A temple built in the memory of Maharaja Jaising stands even today. Jaising's grandson Pulkeshin shifted his capital to Watatipur (present day Badme) resulting in the decline of Kundal. Many villagers are unaware of their heritage.

Kundal is surrounded by hills. One of them, called `Zari Parshwanath', has two caves which house the idol of Mahaveer and the images of Ram, Sita and Lakshman. A huge trough near these caves provides water even in summer. Villagers used this water during the severe drought of 1972.

The water from this trough cascades near the idol of Mahaveer, hence this place is called `Zarai Prashwanath'. A large ground on top of another hill, is considered holy by the Jains because they believe Mahaveer gave sermons to his followers here. This place is called `Samav Sharan'. Nearby, there are a group of 13 caves which were used for meditation.

A few years ago, an idol of Mahaveer was found. Even today, many antiquities are discovered. The Mahaveer idol in Jain Basti here is unique, as it is made of sand. Every year, thousands of Jains visit this place. The palace built by the Chalukyas is in ruins. The heritage may well be lost, if further neglect continues.