According to police, three women along with children were coming down in a lift to apparently catch a glimpse of the blaze that erupted in the parking space in the compound.
However, while the lift was moving down, its wooden door caught fire and the five were burnt alive, police said.
The bodies were charred beyond recognition, they said.
Fire tenders were rushed to the spot that managed to douse the flames.
The cause of the fire in the parking lot was yet to be ascertained, police said, adding that foul play could not be ruled out.
Further investigation was on, police added.