The real founder of the Shantiniketan was Maharshi Debendranath Tagore, father of Rabindranath Tagore, who came to this place , then called as Bhubandanga. The peace and tranquility attracted him so much that he built a home for himself and named it Shantiniketan which means 'Abode of Peace.'
Rabindranath reveled in this place, did most of his literary and creative work here, meditated and ultimately set up most of his institutions here, of which the most famous is the Vishwa Bharati University. All institutions and Tagore's legacy is NOW known COLLECTIVELY as Shantiniketan.
Incidentally, it has become a place with real estate prices topping even Kolkotta's snazziest places LOL.