The image of Srinivasa Perumal is the significant image, which is housed in the sanctum of Kodandaramasvami Temple. The main sanctum of this small temple that faces east, enshrining the stately four-armed image of Srinivasa Perumal, wears a Salagrama garland. The upper hand of the deity holds the conch (sankha) and discus (chakra) and the lower hands are made in abhaya and varada gestures, surrounded by the graceful images of Sri Devi and Bhu Devi. This is considered to be an unusual image as Srinivasa icons are mostly seen with one of His lower hands holding the mace (gada) and the other in the boon-conferring gesture or varada hasta. Many emperors of the Vijayanagara dynasty were great devotees of Lord Venkatesvara (Srinivasa) of Tirumala and thus numerous temples dedicated to Srinivasa Perumal were constructed by these rulers in the Tamil country, which was considered as the integral part of their empire. The Vimana below which the Lord is enshrined in the Kodandaramasvami temple is called Nalinaka Vimana. According to an interesting legendary account associated with this shrine, several decades back, the processional image of Parthasarathi Svami from Triplicane (Tiruvallikeni), Chennai, visited this temple where the holy bath (tirumanjanam) was performed and the two deities exchanged ornaments.

Due to this the legendary temple of Kodandaramasvami became popular. The image of the Lord Srinivasa made the place consecrated for the devotees.