Chennai, May 7: Tamil Nadu Chief Minister K. Palaniswami and his deputy O. Panneerselvam here on Monday laid the foundation stone of a memorial to late Chief Minister J. Jayalalithaa. The Rs 50-crore memorial will come up on the Marina Beach front, where her body was buried near her mentor and another late Chief Minister M.G. Ramachandran’s memorial. Jayalalithaa had died on December 5, 2016. Special prayers were held ahead of the laying of the foundation stone of the memorial proposed to be shaped like the mythical phoenix and will also house a museum and a knowledge park. Speaking to the media, Palaniswami said the memorial will be completed in a year’s time.