Step 1: About the Institute.
The Central Institute of Higher Tibetan Studies (CIHTS) was established in 1967.
It was created as a deemed university for the study of Tibetan culture, Buddhist philosophy, and related disciplines.
Step 2: Location.
The CIHTS is located at Sārānath, near Varanasi (Uttar Pradesh).
Step 3: Analysis of options.
- (1) Sārānath: Correct location.
- (2) Delhi: Not correct.
- (3) Nālandā: Famous for ancient university, not CIHTS.
- (4) Kāśī: General name for Varanasi, but CIHTS is specifically in Sārānath.
Step 4: Conclusion.
Hence, CIHTS is located at **Sārānath**.