Sri Kanyaka Parameswari Devasthanam and Charities owes its existence with the blessings of Sri Vasavamba, the presiding deity of the Arya Vysya Community. With the indefatigable services and support of the members of the community and the able leadership of Sri Suncoo Chinna Kistnamah Chetty and Collah Moothoorama Chetty and the support from the community members, Sri Kanyaka Parameswari temple was constructed at “Kooragayala Thota” at AudiappaNaicken Street, in the year 1720.

The members of the Collavari family and the prominent members of the community acquired considerable movable and immovable property in that area. The income from the market and other properties was utilized for the performance of the Nithya poojas and Naivedyams and festivals of the temple . Feeding of Pilgrims during Navaratri was done out of food.