"He is not here with us today and I am unveiling his statue. His name will always be remembered in the film industry forever. He will be alive in the people's heart," a tearful Waheeda said here during the launch Monday, Dev Anand's first death anniversary.
The statue was unveiled at the Bandra Bandstand Promenade here as part of UTV Stars' property Walk of the Stars.
Remembered as Bollywood's evergreen hero, Dev Anand died of cardiac arrest last year in London. He was 88.
"One thing I noticed about Dev saheb was that he was modern yet simple at heart. He never had stylish cars, never had a huge birthday bash and no show offs," she said.
"When I did my first film with him, he was a star but he never made me realise (I was a newcomer) because he was so cooperative and friendly," added the 76-year-old.
Dev Anand started his career in the black-and-white era with 1946 film "Hum Ek Hain", and spent 65 years as an actor and filmmaker in Bollywood. He left an indelible mark in the minds of movie buffs with classics like "Baazi", "Paying Guests", "Guide", "Jewel Thief" and "Hare Rama Hare Krishna".