The temple is overlooking the town of Srinagar. The temple dates back to 200 BC, although the present structure probably dates back to the 9th century AD. The temple was visited by the Adishankaracharya and has ever since been associated with him. Furthermore, it is regarded as being sacred by Buddhists, who call the mandir “Pas-Pahar.”
Source: Wikipedia: http://en.wikipedia.org/wiki/Shankaracharya_Temple