The institute, set up in 2008, had been hitherto functioning from the NSIT in Dwarka.
Inaugurating the new campus, Dikshit said Delhi government would develop the Institute as one of the best IT institute in its category. The government had declared it as a state university.
"The government will do its best to make it one of the best institute in the world to offer the latest knowledge in the field of IT. It has already earned a special recognition as a premier institute," Dikshit said.
She announced that the government would support all research programmes of the institute and there would not be any dearth of funds for its growth.
The Chief Minister announced that students admitted to the institute from Delhi government schools would get free education at the institute.
Dikshit also announced construction of a foot-over-bridge to connect the institute with the Okhla Metro station.
Lauding the administration of the institute, she said the institute has been able to attract the best international faculty in just four years of its existence.
The second phase expansion of the campus would begin soon and a total of Rs 250 crore would be spent for the purpose.
Officials of Education department said first batch of the students passed out in 2012 with more than 98 per cent of them getting placement in reputed companies with an average pay package of Rs 10 lakh per annum.
Currently, a total of 520 students are enrolled in the institute including 410 students in B Tech programme and 110 in M Tech programme.
Officials said the number of student intake would be doubled in next three years.
