Once upon a time, Mahalaxmi Thayar felt that God was preferring Bhoomi Devi to Her. She complained about this to Sage Duruvasa and requested the sage to bless Her with the colour and body of Bhoomi Devi and Vice Versa. Sage Duruvasa agreed. He went to see Bhoomi Devi who was then with Perumal Bhoomi Devi was so engrossed in God that she could not welcome the sage. The Sage became angry and cursed Her to assume the body & colour of Mahalaxmi. Bhoomi Devi reached this place and performed Tapas to Perumal. She was taking purificational bath in the river. As Bhoomi Devi got the body and colour of Mahalaxi and took bath here this place came to be known as "Shree Perai" (…. The prefix THEN meaning South, came because there is another Divya Desam THIRU PER NAGAR KOVILADI – in Chola Desa….)

Once while taking bath in the river Shree Perai found two ear rings, looking like fishes. She felt that only Perumal’s ears were fit enough to wear such lovely Kundalams. Immediately then, Perumal appeared before Her and adorned those rings. Thus he came to be known as "Magara Nedung Kuzhai Kadar".