The incident occurred at around 6 AM near the Babugenu market in Dockyard Road area, fire officials said.
Four ambulances and 12 fire engines have been rushed to the spot. Rescue operations are on to remove the people trapped under the debris, they said.
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A local Shiv Sena worker said there was a godown in the ground floor of the residential BMC quarters and some repair work was in progress.
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