Nakki (68) and his son Bunty (35) were pulled out of the debris by Fire department officials and rushed to the nearby Gangaram Hospital where they were declared brought dead, police said.
Another man identified as Salman, who too was injured in the incident, is recuperating in the hospital.
"We received a call at around 7:45 AM about the incident. The building was located in Haji Mehboob Gali of Bara Hindu Rao area. Three people were rescued from the rubble out of which two have died. Few more are feared to be trapped under the debris of the building," said Deputy Commissioner of Police (North) Sindhu Pillai.
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