The sthala puranam for this divya desam is mentioned in the Vishnu Puranam. Once upon a time there was a Pandya king by name Indradyumna, who was a great Vishnu bhaktha. One day, he entrusted the kingdom to his ministers and withdrew to the forest to meditate on Vishnu. While he was in meditation, Sage Agastya passed by his ashram. The king was so immersed in his meditation, that he did not notice Agastya. Agastya got angry and cursed Indradyumna to become an elephant.

As an elephant, the king roamed the forest. He became the leader for a herd of elephants, and came to be known as Gajendra, i.e. King of Elephants. Even as an elephant, he continued to worship Vishnu. He used to take bath in a tank and offer flowers to Perumal every day.

During one such day, a crocodile in the tank got hold of Gajendra's foot and started to drag it into the tank. Gajendra then shouted for help to Perumal. Perumal, heard the appeal and rushed to the tank on His Garuda vahanam. He let loose Chakrathazhvar on the crocodile and killed it. This incident is said to have taken place at this divya desam. Hence the moolavar here is known as Gajendra Varadhan.








Source:
1. 108 Vasihnavaite Divya Desam by Miss M. S. Ramesh.