The proposal to build a 20 x 40 feet landscaped garden has been submitted by the Shiv Sena to the BMC.
The garden which awaits final nod from the Maharashtra government and Bombay High Court will come up alongside the statue of Chhatrapati Shivaji Maharaj.
Meanwhile, BMC officials were unavailable for comment on when the civic body will seek permission from the state government to build the garden.
Police security cover continues at the demarcated site to avoid any untoward incident. A Rapid Intervention Vehicle (RIV) and around 25 personnel of Riot Control Police (RCP) are deployed at the spot.
Two days ago, party workers had removed the temporary structure at the funeral spot of Thackeray in Shivaji Park which had become a makeshift memorial for his followers.