Such a status will enable the universities to receive financial grants worth Rs 8-10 crore per annum from the government for the improvement and upgradation of their respective campuses and other academic disciplines.
"The aim is to encourage other institutes emulate their success" said sources in the Union HRD Ministry.
The heritage status will also encourage the varsities to further excel in the field of academics and research and contribute to the development of educational spectrum in the country.
According to sources 15 such university and institutes have been identified which can be granted the heritage status.
A few of them include -- University of Calcutta, University of Bombay, University of Madras and the prestigious Presidency University.
These universities not only established themselves in the academic milieu but has carried on with them an entire generation of intellectuals who have made immense contribution in their respective fields.