The wall of an under-construction building collapsed at around 4.50 pm as the labourers were working at the basement, they added.
One of the labourers, Aman Mandal (35), was killed while Sujan Mandal and Dhananjay Mandal were injured in the incident, said a police officer.
Delhi Fire Services rushed four fire tenders to the spot to clear the debris.
The labourers, engaged for construction work by local trader Ajay Gupta, were rushed to the AIIMS trauma centre.
Aman, who sustained head injuries, was declared dead by the doctors at the hospital.
Gupta, who had hired the labourers, produced the documents related to permission granted by the authorities to undertake construction work, the officer said, adding that the same were being verified.
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