The newly-built pedestrianised zone is said to be modelled on the Hollywood Walk of Fame boulevard in Los Angeles, reports AFP.
"I think people should come to actually dance with the stars," said Kareena. "Some stars that are not here today with us, we can get to dance with them, touch them, feel them and actually realise what they were."
Included in the exhibition is a statue of Kareena's late grandfather - and veteran cinema star - Raj Kapoor sitting on a bench.
"Acting is something that the Kapoors have just lived for. Cinema is something that is in our veins, it's in our blood, and we're very, very proud to say that," she added.
Other features in the walkway include handprints and signatures of Indian cinema stars. Actor Riteish Deshmukh is reportedly planning to launch an alternative exhibition in the city.
"I started collecting handprints of actors over the past ten months and these handprints will be placed at Bandra promenade," Deshmukh said. "The place will be called 'Legends Walk'."