The Tamil Nadu Archaeology Department is exploring the potential for launching an excavation in the port town of Nagapattinam.
It aims to find the remains of the famous Buddhist monastery, Chudamani Vihara, believed to have been built during the reign of Rajaraja Chola I (985-1014 CE).
Nagapattinam is believed to have been a citadel of Buddhism in South India.
The nearby ancient port city of Poompuhar, also known as Kaveripoompattinam, was the capital of the early Cholas.
The State government has announced plans to take up the deep-sea excavations between Poompuhar and Nagapattinam this year.