Places get its name due to a temple, a company, a well known personality, puranic story, or due its history of formation like Cape Cameron; but some places name look alien to the natives and one such place is “LUZ” in Mylapore. This name is neither English nor Tamil or there is no company named “Luz’ in Mylapore as is the case with Parry’s Corner, the reason being the famous Parry & Co
Mylapore was historically known as Vedapuri. The town of Mylapore predates British rule by several centuries. As per available historical and archaeological evidence, it could well be the oldest part of Chennai, with written records of early settlements going back to the first century BC.
Mylapore was occupied by the Portuguese in 1523, who established the viceroyalty of "São Tomé de Meliapore" or "Saint Thomas of Mylapore." Portuguese rule lasted until 1749, except for a brief interim between 1662 and 1687, when the town was occupied by the French.
After 1749, the town fell into the hands of the British East India Company, who took possession of the settlement in the name of Muhammad Ali Khan Wallajah, the Nawab of Arcot. in that same year, Mylapore was incorporated into the administration of the Presidency of Madras. The settlement known as "Luz" developed during this period. As early as 1760, an English writer James Taylor applied for land in the region known as "Luce."
The name Luz might have originated from this
So far no political Party in Tamil Nadu has any agenda to name Mylapore Luz corner to one of its leaders name, probably it might happen, who knows!!

Source: http://en.wikipedia.org/wiki/Mylapore

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