The accident in the city of Bhiwandi, which neighbours India's financial capital Mumbai, occurred around 03:40 (22:10 GMT on Sunday), local authorities said.
A civic official told PTI that the building, located at Narpoli's Patel Compound near Dhamankar Naka, collapsed while the residents were asleep. "Rescue operations are ongoing", NDRF commandant Ithape Pandit told AFP.
A child was also pulled from the debris and was rushed to a nearby hospital.
It is reported that the multi-story residential building at Bhiwandi, which was badly damaged and was due for repairs, collapsed today, killing at least eight people and injuring many. Two civic officials have been suspended in connection with the collapse and an offence has been registered against the building owner, an official said. Thane guardian minister Eknath Shinde said the collapse would be probed. He said 102 "dangerous buildings" in the powerloom town have already been evacuated. Efforts are on to rescue other members.
Rescue workers carry a survivor from the rubble of a collapsed three-storey residential building in Bhiwandi. I wish speedy recovery of injured.
The loss of lives in the building collapse at Bhiwandi, Maharashtra is quite distressing.
It was to this tweet that the Queen actor responded on the micro-blogging site, saying, "Meanwhile Maharashtra government k-k-k-k-Kangana. if they stop being obsessed with me they will know how the entire state is collapsing". Praying for a quick recovery of those injured. "Rescue operations are underway and all possible assistance is being provided to the affected", PM Modi wrote on Twitter.
BJP leader and former Maharashtra chief minister Devendra Fadnavis expressed his condolences to the families of the deceased.