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The construction work was going on the third floor of the building and as many as 60 shops on the first and second floors were already rented out, informed sources.
On receiving the information District Collector Deepa Cholan, Police and fire tenders have rushed to the spot and are taking care of rescue operation.
As many as 10 ambulances and other rescue vehicles are available at the rescue operation. 4 JCBs are also brought to the spot to remove debris, informed sources.
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The building belongs to a relative of former Congress MLA Vinay Kulkarni, informed sources.
More details awaited.