UGC has provided special grant of Rs. 1.83 Crores for restoring Ravindra Kala Bhavana under “Scheme of Granting Special Heritage Status to Colleges”. The project was undertaken at an estimated cost of Rs 2.5 Crores, with the matching contribution of 67 Lakhs by the University. Mr Harish Pai and Mrs Kanchana Pai of Manipal, prepared Detailed Project Report (DPR) and the work was executed by Udupi Nirmithi Kendra. The work was started in February 2017 and restored building was inaugurated  on 26-02-2019. Restored Heritage building is an important land mark in the city of Mangalore.