"I would like to thank UTV for this. It's a great moment for all the people who loved Yash uncle and the people who are associated with the family. We will all miss him," a visibly teary-eyed Rani told reporters.
Yash Chopra died on October 21 last year due to dengue. He was 80.
The statue shows Yash Chopra with his trademark cap and camera and it has been unveiled by the late filmmaker's wife Pamela Chopra and younger son Uday Chopra.
Pamela, who has sung songs in her husband's film, said: "I want to thank UTV for this initiative because people forget... We all tend to do so. But with this statue, we will not forget him. I really like the statute, especially with this favorite cap and his camera."
A veteran filmmaker, Chopra initially made social dramas like Dharamputra and Waqt and thriller Ittefaq. Later, he gave hit romantic sagas Daag, Kabhi Kabhie, Silsila and Chandni and the success of these films earned him the sobriquet The King of Romance.
An emotional Uday said his father will be "remembered for his work".
He added: "I have seen him live, so it's a different feeling. And as rightly said, now his admirers can touch him and feel him."
The statue will be put up at the UTV Star's Walk of Stars at Bandra Promenade Feb 15 along with those of Raj Kapoor, Dev Anand and Shammi Kapoor whose memorable avatars in a statue form have already been installed for the fans.
Others from the film industry who attended the unveiling included Shatrughan Sinha and his wife Poonam, Poonam Dhillon, Parineeti Chopra, and Prem Chopra.
Many of them shared their experience with Yash Chopra.