As many as six people were safely rescued by Mumbai Fire Brigade and no casualties have been reported so far.
The Mumbai fire brigade rescued 23 persons who were trapped since morning.
Two persons were killed after a corner portion of six-storey 'Bhanushali' building collapsed in the Fort area around 4.45 pm on Thursday.
Two people were rescued from the debris and admitted to hospital, said a Brihanmumbai Municipal Corporation (BMC) official.
Fourteen people injured in the collapse are being treated at the J J Hospital. The dean of doctors there said two of them are in a critical state.
Maharashtra Chief Minister Devendra Fadnavis on Thursday announced an ex-gratia of Rs. 5 lakh for the kin of those who died in Bhendi Bazaar building collapse.