The memorial will come up in the sprawling 10-acre land of Sant Gadge Baba Amravati University.
Chief Minister Devendra Fadanvis, who was to perform the 'bhoomipujan', could not attend the event as his aircraft could not land due to poor visibility.
Speaking on the occasion, Pote said the memorial will be a state-of-art 1200 seating capacity auditorium with a full size statue, four other small conference halls and a gallery to accommodate his numerous photographs and memorabilia.
Justice Bhushan Gavai, who is eldest son of the late Dalilt leader, wife Kamal Gavai, legislators Sunil Deshmukh, Anil Bonde, Yashomati Thakur and Ravi Rana along with former minister Gulabrao Gawande attended the event.
Pote said the state government will soon initiate the work and Fadanvis will be visiting Amravati on October 30 on the occasion of Gavai's birth anniversary.
As per primary estimates, the entire project will cost around Rs 125 crore.
Gavai was a member of the State Legislative Council from 1968-78. Later, he served as its Chairman from 1978-82. He was also Opposition Leader in the Council from 1986-88.
Gavai was appointed as Governor of Bihar in June 2006 to July 2008 and served as Kerala Governor from July 2008 to August 2011.
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