The Samajik Samata Manch, which propagates the views of Ambedkar, held the "Reminder March" from "Chaityabhoomi" to Indu Mills compound in Dadar, where the memorial is to come up, located a few kilometres away.
"Chaityabhoomi", near the Dadar railway station in central Mumbai, is the site where the chief Constitution-maker was cremated.
Despite Prime Minister Narendra Modi himself laying the foundation stone for the memorial in October 2015, the work on the project has not yet started, the manch lamented.
Addressing a gathering at the end of the march, Kamble said, "Will this national memorial to Dr Babasaheb Ambedkar ever be constructed?
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"Why hasn't the work of the monument started? The state government has taken full possession of the Indu Mills property (where the memorial will come up). The foundation stone was laid by none other than Prime Minister. We are fed up with the empty assurances of the Central and state governments."
Kamble, who unsuccessfully contested the 2014 assembly elections on a BJP ticket, said his organisation will not sit idle and will continue to push for the project.