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The fire gutted at least 1,000 business establishments inside the G+5 building, causing huge losses to traders ahead of Durga Puja.
Many commercial buildings are quite old and there are no proper fire safety measures there.
At the moment the process of "cooling down" was on at the Bagree Market and 15 fire tenders have been pressed into service for it.
The state police and fire officials immediately rushed to the spot and doused the flames, causing minor damage to the building.
Presence of inflammable goods such as deodorants, nail polish and plastic products in the building made controlling fire a difficult task, fire brigade sources said.
All the residents of the 10-storey building were evacuated by the fire department personnel after the blaze engulfed its ground floor.
Three fire tenders have been rushed to the spot to douse the flames.
A short circuit is suspected to have caused the fire in the Kanya and Sree Kanya theatres located in the same building at Gajuwaka area.
Thirty-five fire tenders were pressed into service as the blaze spread to other parts of the market, in congested Canning Street.
The cause of the fire is yet to be ascertained and an investigation is underway.
The fire broke out in a shopping complex in Baramulla district's Uri market this afternoon.
Bagree Market fire: Kolkata Mayor says market authorities did not install adequate fire safety measures
The Kolkata Municipal Corporation has formed a committee to review the status of commercial buildings across the city.
Twenty fire tenders have been working to douse the fire, the sources said adding that a ladder has been brought to reach the top of the five-storied building, no casualty has been reported so far.
The fire broke out at Hotel Pamposh near Regal Chowk in the heart of the city here, a police official said.
With the induction of 1500 new recruits, the strength of TNFRS has increased to 7,200.