Drama in that place, welcoming cheers going up (7)
I believe the answer is:
theatre
'drama' is the definition.
(thesaurus)
'in that place welcoming cheers going up' is the wordplay.
'in that place' becomes 'there' (I've seen this before).
'welcoming' is an insertion indicator (in sense of 'inviting in').
'cheers' becomes 'ta' (I've seen this in other clues).
'going up' says the letters should be written backwards.
'ta' in reverse letter order is 'at'.
'there' going around 'at' is 'THEATRE'.
(Other definitions for theatre that I've seen before include "Scene of drama or operation" , "Place for stage works" , "where they're in action?" , "Place for drama" , "Part of hospital" .)