The "Venkatesh charan" refers to Lord Venkateswara (also known as Balaji), a form of the Hindu god Vishnu, who is worshipped at the Tirumala Venkateswara Temple in Tirupati, Andhra Pradesh, India. Statues or idols of Lord Venkateswara are commonly found in homes and temples. Here are some of the believed benefits and significance associated with having a statue or idol of Lord Venkateswara:

1. **Spiritual Upliftment**: Worshipping Lord Venkateswara is believed to bring spiritual growth and inner peace to devotees.

2. **Wealth and Prosperity**: Devotees often pray to Lord Venkateswara for wealth and material prosperity. The deity is known as the "Lord of Seven Hills" and is considered a granter of boons.

3. **Removal of Obstacles**: It is believed that Lord Venkateswara helps in removing obstacles and difficulties in one's life.

4. **Fulfillment of Desires**: Many devotees believe that prayers to Lord Venkateswara can help in fulfilling personal desires and wishes.

5. **Health and Well-being**: Regular worship is thought to bring health and overall well-being to the household.

6. **Devotion and Faith**: Having a statue of Lord Venkateswara in one's home encourages daily devotional practices and strengthens faith.

7. **Protection**: Lord Venkateswara is often worshipped for protection from negative influences and to provide a sense of security.

8. **Harmony and Peace**: It is believed that the presence of the deity brings harmony and peace to the household.

To maximize these benefits, devotees often follow certain practices:
- Daily worship and offerings.
- Chanting of mantras dedicated to Lord Venkateswara, such as "Om Namo Venkatesaya".
- Observing fasts and participating in temple rituals.
- Decorating the statue with flowers and other offerings.