Outgoing chief minister Manik Sarkar and elected leaders of the Communist Party of India-Marxist (CPI-M) also attended the event.
Biplab Deb, a long-time RSS volunteer, has been largely credited for the BJP's turnaround in Tripura.
Sarkar, who has ruled the state for 20 years, is in the process of checking out of his official residence on Marx-Engels Sarani, about 500 metres from his new home.
The state has been witnessing attacks and arson since the announcement of results on March 3 of the just-concluded Assembly elections.
The nearly 11-ft tall fibre glass statue, which stood on a pedestal at College Square, was brought down on Monday with the help of a bulldozer.
In wake of recent incidents of violence, the Ministry of Home Affairs has also asked the states to take all necessary measures to prevent such incidents.
The police on Tuesday said it had received complaints of post-poll violence from various parts of the state since Sunday night.
"It's all a third-rate type of violence and vandalism by the BJP. It's all a planned affair," Reddy said on the pulling down of the Russian revolutionary leader's statue in South Tripura's Belonia town.
''I am against the CPI(M) and Marx or Lenin are not my leaders. I have always protested against the atrocities of the CPI(M). Similarly, I will also not accept the BJP's atrocities," Mamata said.
Modi's remarks came at the BJP Parliamentary Party meeting and were an apparent reference to a number of state elections, including the upcoming Karnataka polls, followed by the Lok Sabha elections next year.
The home ministry has also asked the state government to do the needful to maintain public order and restore peace.
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