The property, akin to the Hollywood Walk of Fame, will be launched in the company of Kareena Kapoor and her "Heroine" director, Madhur Bhandarkar.
To begin with, tiles dedicated to Prithviraj Kapoor, Raj Kapoor, Shammi Kapoor, Randhir Kapoor, Rishi Kapoor, Neetu, Karisma Kapoor and Kareena will be installed Wednesday.
Also as a special honour, brass statues of Raj and Shammi will be installed too.
The Walk of the Stars will feature hand imprints of Bollywood celebrities. They will give their hand imprints in a clay cast, which will be processed in brass later and will be placed in their presence subsequently.
Nikhil Gandhi, business head at UTV Stars, had earlier told that the "deserving, glamorous and big stars who have contributed a lot to Indian cinema" will find their hand imprints on the "walk", which was earlier being called the Bollywood Walk of Fame.
Even actor Riteish Deshmukh has floated a similar project in Mumbai. He calls it The Legends Walk.