The sanctified place where Rasik Bhita is situated was donated by the trustees of Ramakrishna Vanaprastha Ashrama to Sri Sarada Math.The foundation stone was laid on 23rd November, 1999, Tuesday, Raspurnima Day by Rev. Pravrajika Shraddhaprana Mataji,3rd President, Sri Sarada Math and Ramakrishna Sarada Mission.

The dedication ceremony of the four-level memorial building, constructed on this sacred land, took place on November 24, 2001.

The inauguration of the institution was on 23rd December, 2001 while classes commenced from January 16, 2002. 15th August is celebrated as the Annual Day.