This temple is situated at Thycattussery, 11 km to the north of Cherthala in Alappuzha district. In ancient times there was the custom of the leaders of the Nair families from Thycattussery going to Kodungallur to worship the Goddess there on the 1 st of Makaram. All those who were going to Kodungallur will gather at the Kothesivapuram temple and get into boats from there. Along with all the auspicious articles included in the Thalam, they used to take a Peedam (seat) also to the temple. But one year they realized that they had not taken this only when they more had gone some distance. They brought the boat back and went to the platform where the Punna tree stood in order to do the pujas and take the seat. But they could not take the Peedam as it had got stuck to the soil.The devotees proceeded to Kodungallur without the seat. After worshipping the Goddess at Kodungallur, they lay down to sleep. But sleep eluded them as they were sad that they had not brought the Peedam. Then a beautiful lady approached them. She told them not to worry about what had happened. She revealed that the essence of Kodungallur Bhagavathy was present under the Punna tree where they had kept the seat. She also told them to worship the Goddess there and to conduct the Thalapoli that they used to hold at Kodungallur, at that place. As per the divine instruction the temple was built under the Punna tree. The Peedam and the sword are still kept well preserved there even after many hundreds of years.