From my recollection Punt road was named so because it was a stop point for Punts using that yarra river. I don't think it has anything to do with Aussie rules as american football has Punters and Punt kicks
Yahoo is spot on and Punt Rd Chardonnay is a top drop !
Well not sure where Kam got that info, I was lead to believe Captain Blood, Jack Dyer invented the Drop Punt, because he wanted a more accurate kick when kicking at goal, Hudson and Wade etc were still kicking torps and flat punts into the late 70's, and I know the topedo punt was around before the drop punt. But to give an answer to what you asked, I would hazard a guess here and say Punt Rd was around a fair way before any type of Punt kick..
This is hardly reliable but this source says, "Hugh Hinks invented the Drop Punt in 1907." Punt Road oval at least broke ground in 1855, the road itself is probably older than that. So if there is a relationship between the kick and road than it's only logical to suggest that the kick was named after the road
