According to initial reports, at least 20 people are trapped inside the building, most of them labourers.
The cause of the fire was not immediately known but it is believed that short circuit caused the blaze. No casualty has been reported so far. Eyewitnesses said that thick black smoke was rising from the 10-storey building.
At least 10 fire tenders are at the spot and efforts are on to control the raging inferno. Army jawans are also helping firefighters in controlling the blaze.
Rescue operations were underway when the last reports came in. Some reports claimed that the fire has been brought under control.
On December 29, 12 firefighters were injured while trying to douse the flames when a fire broke out in Sadhana House in Worli, Mumbai.
On Dec 27, seven people lost their lives after a broke out on the 14th floor of an apartment in Chembur, Mumbai.