This is the pond where Mahamaya Devi is said to have bathed before she gave birth to Buddha. Not only this, infant Buddha was given a purification bath after he took birth. It is a sacred pond and is revered by the Buddhists, one should be watchful of showing appropriate respect.
The water in the pond is believed to have medicinal properties as well. The people with skin problems are believed to be cured of their disease here.