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The death toll has reached 45 today, including 11 children, according to officials from the local Thane police station.
More than 60 people are reported injured by local media.
The seven-storey building that collapsed was still under construction.
Fifty people have been rescued, but some are still believed to be trapped in the debris.
The building was an illegal construction, and sub-standard material was used, said officials.
“The building [that has collapsed] was an unauthorised construction. We are going to investigate thoroughly into this and prepare a report,” said Sandeep Malwi, spokesman for the Thane municipal corporation.
But homes and offices had already been set up within the building.
According to civic officials, 35 families were residing in the building during the time of the tragedy.
The police have filed a case against the builders of culpable homicide not amounting to murder.
The state chief minister Prithviraj Chavan and deputy chief minister Ajit Pawar visited the accident site on Friday afternoon.
The BRICS Post