Party leader Manohar Joshi said that it was fitting that a leader of Thackeray's stature have a memorial next to that of medieval Maratha ruler and cultural icon Chhatrapati Shivaji.
"We want that a memorial dedicated to him be made here itself."
When asked whether the government would agree to the proposal, Joshi said, "Why will it not? I have faith that the government will agree, and that Balasaheb Thackeray's memorial will stand next to that of Chhatrapati Shivaji."
Earlier in the day, Thackeray's son Uddhav arrived at the funeral site to collect the ashes and bones of the late leader, which will be immersed in the Ganges river as per Hindu religious practice.
Thackeray died of cardio-respiratory arrest on November 17 at his home in Mumbai.