Aviation sources said the accident happened at around 9.50 am when the twin-engine Superking plane crashed into the airport boundary wall near a railway track and landed in a sewage treatment plant while returning back apparently due to a technical problem five minutes after it took off for Ranchi.
The aircraft lost contact with the Air Traffic Control, at 9.50 am, they said.
"It is unfortunate that all 10 people including the pilots have died in the crash," Union Minister of State for Civil Aviation Mahesh Sharma said. There were two pilots on board.
BSF sources said the technicians were on their way to Ranchi to repair a helicopter.
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The DG-level talks between India and Bangladesh scheduled today in Dhaka have been cancelled in the wake of the crash, according to BSF sources.
Police said six bodies have been recovered from the crash site.
Prime Minister Narendra Modi condoled the loss of lives in the crash.
"Pained by the loss of lives in the BSF plane crash in Delhi. My thoughts are with the families of the deceased," he said.
"We saw a plane spiralling down which crashed near the wall where work was going on. I could sport one body. A labourer who was working was also injured," an eye witness Suraj said.
The area was engulfed in dense smoke and fire with pieces of aircraft spread around.
Delhi Fire Service chief A K Sharma said 15 tenders were rushed to the spot to douse the flames.
An inquiry has been ordered by the Civil Aviation Ministry.
The 10 on board the ill-fated aircraft comprised the pilot, who was a second-in-command rank officer of SIB, the co-pilot, who is a Deputy Commandent, six technicians, one engineer and one crew member.
Civil Aviation Secretary R N Choubey said authorities were in the process of setting up a Committee of Inquiry to probe the mishap.
"We are trying to identify a pilot who has flown the type of aircraft that has crashed," he said.