In Hindu texts, Shambala is said to be the birthplace of Kalki, the final Avatar of Lord Vishnu that will show the way to the new era. There is a reference in Bon scriptures which talks about a land that’s quite similar and is known as Olmolungring.
The legend comes from the reference in various ancient texts that backs to thousands of years. The most common name is Shambala, or Shamballa, or Shangri-La. It’s called Aryavartha, the Land of the Worthy Ones, by Hindu it is called Hsi Tien, the Western Paradise of Hsi Wang Mu, by the Chinese it is called Belovoyde by the Russian Old Believers. Some of which are: the Forbidden land, the Land of White Waters, Land of Radiant Spirits, Land of Wonders, Land of the Living Gods, Land of the Living Fire. It is also known as “The Land of Thousand Names”, as many names are labeled to this place.