According to Thane Municipal Corporation's Regional Disaster Management Cell in-charge Santosh Kadam, the four-storeyed building--Krishna Niwas--located in B cabin area of Thane city near the railway station, collapsed around 2.30 AM when the occupants were fast asleep.
The toll rose to 12 after the body of a 60-year-old man identified as Ramchandra Barve was recovered from the debris, he said.
Soon after the collapse, 50 personnel from fire brigade and National Disaster Response Force reached the spot and began rescue operations to save those trapped inside.
According to Additional Civic Commissioner Sunil Chavan the building was listed in the category of dangerous structures.
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This is the second major incident of building collapse within a week after a 40-year-old building crashed in Chole village of Thakurli in Kalyan claiming nine lives.
District Collector Dr Ashwini Joshi and Guardian Minister Ekanth Shinde are supervising the rescue operations, which is still in progress.
The deceased have been identified as Subhrav Pandurang (54), Mira Bhatt (58), Rashmi Bhatt (25), Arun Sawant(62), Priya Patel (14), Bhakti Sawant(32), Aanaya Khot (07), Ramchandra Bhatt (65), Manda Nene (70), Rashmi Mange (25) Amit Sawant (40) and Mahadeo Ramchandra Barve (60).