"My grandfather Raj Kapoor was biased towards Karisma because both of them had blue eyes. I have green eyes as that of my father, " Kareena told reporters.
"During summer seasons he would give two mangoes to Karisma and I would end up getting just one. I had to work hard to please him, " she added.
The statue was unveiled at the inauguration of UTV Stars' property Walk of the Stars at the Bandra Bandstand Promenade.
The event witnessed the felicitation of the 'Kapoor Khandan', one of the legendary families of Indian cinema.
Kareena was accompanied by father Randhir Kapoor to unveil her grandfather's statue.
"I am short of words, what more would I ask for. My father and my grandfather had made me who I am. Which girl has got this opportunity guys, " she said.
"Kapoors have acting in their veins and blood. I am looking forward to walk down a memory lane. What better gift than this to the 100 years of Indian cinema."
Director Madhur Bhandarkar joined Kareena in unveiling the signatures of her great grandfather Prithviraj Kapoor, Shammi Kapoor, Raj Kapoor, Sunil Dutt and Nargis.
Madhur said: "The way Hollywood has its Walk of Fame even the Hindi film industry now has its Walk of Stars."
A special picture was clicked with Kareena sitting in the lap of the statue of her grandfather where she said: "This is the only lap that Saif would allow me to sit on."
The event was held at a five-star hotel but simultaneously the tiles dedicated to Prithviraj Kapoor, Raj Kapoor, Shammi Kapoor, Randhir Kapoor, Rishi Kapoor, Neetu Kapoor, Karisma and Kareena were also installed at Bandstand.
A special honour brass statue on a bench of cinema greats Raj Kapoor and Shammi Kapoor was also installed.