Nalanda University was established during the 5th century A.D.
The university is considered the first residential university ever in
the world. The university stands proof for the prominent role played by
India in imparting knowledge. The university had 2000 teachers who taught over 10000 students
from all parts of the world. The uniqueness of the place could be
gauged by the fact that Buddha himself was a teacher here and Hieun-Tsang,
Chinese traveler and a great scholar, was a student of this university.
Red rocks were used in the construction, which is built in Kushana style of architecture. The remains excavated from the university ruins include stupas, ornamented panels, lecture halls and stairway.
source - http://en.wikipedia.org