"Dr Ambedkar's memorial should be of international standard and built in a time-bound manner.... We should not sit quiet until this goal is achieved," senior party leader Gopinath Munde said addressing a public meeting in suburban Vikhroli.
Congratulating RPI leader Ramdas Athawale for pushing the demand for the structure and securing the 12.5-acre premier land for the purpose, Munde said "BJP would support the RPI in its endeavour to resolve issues concerning dalits".
Shiv Sena, BJP and RPI (Athawale) forged an alliance ahead of the Brihanmumbai Municipal Corporation (BMC) elections held earlier this year.
Shiv Sena Rajya Sabha MP Sanjay Raut, who was also present on the occasion, said Dr Ambedkar is the "pride" of the nation.
"Ambedkar is the pride of the country. Even 50 acres of land for constructing his memorial would not be enough", he said.
Raut recalled that late Shiv Sena chief Bal Thackeray had ensured that RPI join the Sena-BJP combine to cater to people of the state.