As per the local folklore, Sridhar a Brahmin and a devotee of Lord Venkateswara used to live in Tirumala Hills. Padmavati, a Gandharva Kanya used to play a musical instrument Veena in front of the Lord in the Sanctum Sanctorum. Once Sridhara got attracted to Padmavati and proposed to marry her. Padmavati rejected the proposal for which he got angered and cursed the lady. The lady, in turn, cursed him. To get rid of the Curse, they both prayed for the Lord and Lord told them that Padmavati will take the form of a River near to river Godavari and Sridhara will be born to a Brahmin couple in Karnataka.
AsKarnataka, Padmavati took the form of a river near Godavari and Sridhara after his pilgrimage reached the banks of Padmavati river. Lord appeared in the dreams of Sridhara and revealed his whereabouts. Sridhara recovered the Idol from Asvadda Tree which is on the west to the river Padmavati. On installing the Idol and performing Abhishekam with the water from the river Padmavati, they both relieved from the curse.