In phase 1 the buildings will be construction at an estimated cost of Rs 250 crore and phase 2 will include technological installations like laser show and virtual reality, and will cost around Rs 150 crore.
Raj Thackeray and Uddhav Thackeray at the unveiling of Balasaheb Thackeray's staute in Colaba | Pic: Bipin Kokate
The Maharashtra Cabinet, on Sunday, approved an amount of Rs 400 crore to convert the Shivaji Park mayor bungalow into a Balasaheb Thackeray memorial.
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The Mumbai Coastal Zone Management Authority had earlier approved the inclusion of a fourth building to the memorial premises, reports Times of India.
The conversion will be completed in 2 phases. In phase 1 the buildings will be constructed at an estimated cost of Rs 250 crore and phase 2 will include technological installations like laser show and virtual reality and will cost around Rs 150 crore.
MMRDA will bear the start-up expenditure.
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