Lakshapana Falls, which at 126 metres are the 8th highest in Sri Lanka, are situated on the Maskeliya Oya. It is 625th highest waterfall in the world. However, whereas the waters of the Maskeliya Oya once flowed copiously over the falls, the construction of a dam in recent decades has reduced the flow and muted the once thunderous roar. Nevertheless, this waterfall is still a magnificent sight. The sparkling waters of the Maskeliya Oya have to wend their way through many big boulders before gushing over a ledge and falling down a sheer rock face set amidst tall trees.

The Falls gives its name to twin Hydroelectricity Power stations, Laxapana which generates 50MW of electricity and New Laxapana which generates 100MW.
The traditional Sinhalese name for the Lakshapana Falls is Veddah hiti Ella, or The Falls Where the Veddah Lived. The modern name has several interpretations. It may be derived from the Sinhala lakshaya, which means 100,000 and pahana, which means stone. Alternatively, it may be derived from lakshana or beautiful, i.e. beautiful stone.

There is a widespread belief that the Buddha, while on one of his three visits to the island, sat on the rock of Indikatupana to repair his robes. (This rock is on the path to Sri Pada (Adam's Peak) and pilgrims still stop there to symbolically sew some material.) There is also a belief that the waters of the Maskeliya Oya, which feed the Lakshapana Falls, rise from Indikatupana. This is erroneous, however, for the Maskeliya Oya, rises in the forests south of Fairlawn Estate.

To see this waterfall, travel the road from Maskeliya to Norton Bridge for 13 kilometres where a small road leads to Kottalenna, a settlement close to the waterfall, which can be seen at the bottom of the valley. A steep path leads down to the pool.

Island is blessed with 103 rivers and streams radiating from the central hills, precipices forming lots of roaring waterfalls of various shapes and heights, all these are ending up loosing the momentum at the Indian Ocean. The old name of this beautiful and Gigantic water fall is "where a vadda was lakshapana ........Its beautiful place.....!!!