Shreya,
1. Can you be more specific about what will satisfy your criterion of "doing something in the lab"? For example, perhaps you mean carrying out chemical reactions or separating multiple species from solution.
The chirality experiment could be performed with a special laboratory source of polarized light, a filter mounted on an optics bench, and different chiral molecules ordered from a laboratory supplier, but the results would be the same. It just so happens that it can be performed with commonly available objects and inexpensive, safe (edible!) chemicals -- and the experiment is written using these in order to make it accessible to the largest number of students. Also, you might be surprised by how often things in a "real" research lab are cobbled together from whatever is available; when you're trying to do something new, there isn't always specialized equipment available.
2. The usual way that an experiment is developed is to do background research, come up with an interesting hypothesis, and
then figure out what needs to be done "in the lab" in order to test that hypothesis. So, what interests you the most about stereochemistry? What unanswered questions do you have from the reading you've been doing?
3. Because time and resources are often quite limited for high-school experiments, I usually recommend generating as many hypotheses and questions as possible while you're learning about your topic. Then you can evaluate what's feasible (and most interesting to you). Whatever you do "in the lab", you're going to need some method of measuring a stereochemical property -- it's very possible that you could have two stereoisomers that look the same, have the same viscosity in solution, etc, and you'll need some way to evaluate the results of your lab work. The rotation of polarized light by chiral molecules is one method for distinguishing enantiomers that seems like it should be accessible to you. Thus, you could do something like starting with a racemic mixture and trying to separate it, or trying to synthesize a chiral molecule in such a way that you end up with only one enantiomer. Resources to start with:
http://en.wikipedia.org/wiki/Chiral_resolution
http://en.wikipedia.org/wiki/Asymmetric_synthesis
(Wikipedia is great for finding key words and getting the gist of a topic, but before you go doing an experiment, you'll want to find more primary sources, especially with regard to safety.)
There are likely properties other than optical activity that differ between certain pairs of stereoisomers, but it's important to keep in mind whether or not it will be possible for you to measure those properties.
Amanda
. Now theory is not a big problem 
. My basic concern is what to do in the lab. The web page you mentioned regarding optical properties of chiral molecules shows a home made project. Can't we do something in the lab using all those chemicals and compounds? 
We can definitely include the study of chiral molecules, that will have an added effect 
but I want to do something in the lab as well. Please give some suggestions and ideas regarding this. I shall be highly obliged.