Alakapuri is the abode of Lord Kubera, and he is the king of Yakshas and the Wealth god, and his attendants are called as Yakshas. He was mentioned in the Mahabharata, Vedas and in various other Puranas. Alakapuri appears similar to Deva Loka with regard to its art and architecture.
Kubera is the son of the great sage Visravas and Ilavida, and he was born in the Treta Yuga. Ravana was the son of Visravas and Kaikashi. Previously Lanka was ruled by Kubera. After knowing about its beauty, Ravana fought with his brother Kubera, and forcefully acquired the kingdom of Lanka. Due to that, Kubera had built a beautiful palace for him and his attendants at Alakapuri, and peacefully lived there, and it is believed that he is still living there, similar to Lord Indra, by enjoying all sorts of comforts in his life. His kingdom of Alakapuri was visited by various divine gods like Indra, Varuna and Vayu, and they praised him for building such a beautiful palace.
Once Devarishi Narada had visited Alakapuri, and he explains its beauty to others sages, “Alakapuri is a divine world, and it can be compared with Lord Brahma’s Satya Loka and Lord Indra’s Indra Loka, with regard to its beautiful appearance, big entrance of the palaces, and it contains golden pillars, and everywhere I saw the amazing and wonderful paintings and it cannot be entered by ordinary mortals. It was visited and praised even by the demon king Prahalada, and also visited by the various devotees of Lord Shiva”.
Lord Kubera is an ardent devotee of Lord Shiva, and Shiva and Parvati also used to visit his Alakapuri frequently, and sanctified that place. It is also believed that those who sincerely worships and chants the mantras of Lord Kubera may get an opportunity to live in this Divine world Alakapuri for a few thousand years, and they can enjoy all sorts of comforts and luxuries in this lovely world.