Mahabalipuram was founded by Narasimha Varman. It is a historical town located in Tamil Nadu, India. Narasimha Varman, also known as Mamalla, was a Pallava king who ruled from the 7th to 8th century AD. He established Mahabalipuram as a major seaport and trade center during his reign.

Option 1, Rajaraja Chola, is incorrect. While he was a prominent ruler of the Chola dynasty and significantly expanded their empire, he did not found Mahabalipuram.

Option 3, Chandragupta Maurya, is incorrect. He was the founder of the Maurya Empire in ancient India, but Mahabalipuram predates his reign by several centuries.

Option 4, Vivasvan, is incorrect. Vivasvan is a figure from Hindu mythology and not associated with the founding of Mahabalipuram.

Overall, the correct answer is option 2, Narasimha Varman.