The Vishnu Nagar police said that the building at the Mhatrewadi occupied by around 23 families began "tilting" at around 8.30 pm today.
Some of the residents who noticed it raised an alarm after which firemen rushed to the scene and evacuated the families.
Six families residing in adjoining chawls were also evacuated as an additional precautionary measure, the police said.
The building is in a precarious condition and a timely alarm by its residents saved their lives, the police said.
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