At a simple ceremony, Advani unveiled a black marble plaque for the building which will house the institute. To be equipped with lecture, practice, conference and exhibition halls, an open-air theatre, a library and a recording studio, the building is expected to be completed in two years at an estimated cost of Rs 97 lakh.

Kalaikoodam is engaged in promoting research, documentation and new developments in the fields of art, literature and culture, with the focus being on classical Indian art forms and their relation to modern art, aesthetics and culture.

Recalling his long association with the Varadans, Advani praised the danseuse's work and expressed hope that with its own building the institute would do more to promote Indian art and culture. Noting that the field of art generally suffered from paucity of funds, Delhi CM Sahib Singh, who was also present on the occasion, assured the institute of his government's support.