Akali Dal leader Prem Singh Chandu Majra, Samajwadi Party leader Narinder Singh Bhati and SP's Gautam Buddha Nagar district president Fakir Chand Nagar were present at the occasion.
While unveiling the statue, Chautala said Chandra Shekhar's contribution towards strengthening the country cannot be forgotten.
Referring to Chandra Shekhar's contribution, SP leader Narinder Bhati said the leader made several significant decisions in his short span as prime minister.
"He was a socialist and his statute here will motivate people to follow the socialist ideology," Bhati said.
The statue has been installed at a private farm house along the main road.