[5][6] According to legends, Peruvanam was one of the 64 villages (Gramam-s) created by the mythological character Parashurama, the sixth avatar of Lord Vishnu, in the land reclaimed by him from the sea in the south-west coast of the Indian peninsula and donated to the Brahmins he had brought from other parts of India.

The year is indicated in the Kalidina of the starting of the Pooram which itself is encoded as "Ayathu Shivalokam Nah" in the famous Katapayadi system.

[11][12][10][13] Presently, as many as 133 Namputhiri Illam-s or Mana-s (a mana or illam is a patrilineal clan of Naṃpūtiri-s or Malayali Brahmins all of whose members share the name of the Mana as the common family name; the word is also used to denote the house of a Naṃpūtiri or Malayali Brahmin), whose members live scattered across different parts of central Kerala, have been identified as descendants of the original settler families of the Peruvanam village.

For example, the qualifications for the appointment of the Melsanthi (Chief Priest) of the great Sri Krishna Temple at Guruvayur stipulate that the candidate should be from Peruvanam or Sukapuram Gramams with Agnihotram and Bhattavrthi.

[14] This modern-day stipulation is proof enough that the myth and legend of the Peruvanam Gramam is a living tradition that influences and interferes in the life and times of contemporary Kerala society in a very concrete way.

The 28 days commencing from Utram nakṣatram in the Kuṃbhaṃ month is even now observed as the festival season (Utsavakkālaṃ) in Perumanam Gramam with the performance of special rituals in temples.

All the nooks and corners of Peruvanam Gramam, represented by the presiding deities of the local village temples, used to be participants of the festival.

One event that dealt the near death blow to the Utsavam was the starting of the Thrissur Pooram in the year 1796 under the direction and control of Sakthan Thampuran, the then ruler of the erstwhile Cochin Kingdom.

However, during the last quarter of the twentieth century, with the support and encouragement of the State government, the Pruvanam and Arattupuzha Pooram-s witnessed a resurgence and now they are organised with much grandeur and huge popular participation.

However, from bits and pieces of information collected together from various sources like inscriptions on temple walls, few copper plate records and allusions in literary works historians have attempted to present a coherent account how a Gramam might have been administered in medieval times.

However, a group of Uralar-s, called Paratai (a corrupt form of the Sanskrit word Parishad), used to function like an executive committee and look after the day-to-day affairs of the temple.

Kinship affiliation, property qualification, educational achievements and adherence to moral codes seem to have been the eligibity for being members of this committee.

This is evidenced by the popularity and spread of the large number of literary, astronomical, astrological and other creative works composed by persons who have identified themselves as belonging to this Gramam.

One can see several references to such works in the classic multi-volume history of Kerala literature written by late Ulloor S. Paramevara Ayyar.

In contemporary times, a small geographical area in a Grama Panchayath in Thrissur district has been named after the legendary sprawling Peruvanam Gramam!