In so far as Sthalapuranam of this Temple is concerned, there is no authentic information. It is learnt that Sri Kanaka Maha Lakshmi Ammavaru is the family deity of the then “Rajas of Visakhapatnam”. The locality where the idol was found is called “Burujupeta” since it was near “Buruju” of the “Fort” of the then Rajas.
According to local story, in the year 1912, the idol of Goddess Shri Kanaka Maha Lakshmi was taken out from the well and it was installed at the center of the road that is amidst the Municipal lane. The Municipal authorities, for the purpose of widening the road, have shifted the idol from the middle of the road, to a corner of the road. In the year 1917, the dangerous contagious disease `Plague’ spread over the town and so many deaths occurred in Visakhapatnam village. The people of Visakhapatnam were afraid of the incident and thought the devastation was due to shifting of idol of goddess `Shri Kanaka Maha Lakshmi’ and therefore, re-erected the idol to its original place, that is at the center of the road as it exists now.After the re-erection, the `Plague’ disease was cured and normalcy was restored. With this, the villagers have a staunch belief that, it is all due to miracle of Goddess and thus from then onwards, the villagers used to worship the Goddess by peforming sevas with much devotion. Further, the people of the vicinity have strong belief that Sri Kanaka Maha Lakshmi is the `Mother of truth’ and will always bless her devotees by fulfilling their requirements.
The lady devotees have staunch belief that the Goddess blesses them with “Sumangali bhagyam” (to live with their husbands for long). The devotees of Goddess bring their newly born babies to the temple and keep them at the feet of Goddess and seek blessings.
The Hindu temple architecture is an open, symmetry driven structure, with many variations, on a square grid of padas, deploying perfect geometric shapes such as circles and squares. A Hindu temple consists of an inner sanctum, the garbha griha or womb-chamber, where the primary idol or deity is housed along with Purusa. The garbhagriha is crowned by a tower-like Shikhara, also called the Vimana. The architecture includes an ambulatory for parikrama (circumambulation), a congregation hall, and sometimes an antechamber and porch.
The Hindu temple architecture reflects a synthesis of arts, the ideals of dharma, beliefs, values and the way of life cherished under Hinduism. It is a link between man, deities, and the Universal Purusa in a sacred space.
In ancient Indian texts, a temple is a place for Tirtha - pilgrimage. It is a sacred site whose ambience and design attempts to symbolically condense the ideal tenets of Hindu way of life. All the cosmic elements that create and celebrate life in Hindu pantheon, are present in a Hindu temple - from fire to water, from images of nature to deities, from the feminine to the masculine, from kama to artha, from the fleeting sounds and incense smells to Purusha - the eternal nothingness yet universality - is part of a Hindu temple architecture.