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A few others are feared trapped under the debris and the rescue operations were underway at the mishap site near Thomas Town here.
The accident occurred when the foundation of the four-story building under construction gave way. Under the impact, the foundation of the adjacent apartment was also affected and both the buildings sank partly, police said.
Families living in the adjacent building were quickly evacuated.
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The National Disaster Response Force (NDRF) personnel, police and fire brigade personnel rescued seven people, who have been hospitalized.
The weak foundation was suspected to be the reason for the mishap, police added.