"Eight bodies have been retrieved from the debris of the building which collapsed at around 3 PM," Chief Minister Manohar Parrikar, said, adding more than 40 workers were working on the site when the structure crumbled.
He said more people could be under the debris and efforts are on to rescue them.
"Though exact number of people trapped under debris of this five-storey building cannot be known, the builder has told the police that more than 40 workers were working on the site when the structure crumbled," Parrikar told reporters.
Meanwhile, eye witnesses said the under-construction residential complex came crashing like a pack of cards in the busy street of Canacona, 70 km from here.
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Six bodies were retrieved from the debris nearly one hour after the rescue operation started.
Though personnel from fire and emergency services, armed with a crane, began the rescue work, the slow pace of the operation prompted the state government to seek help of Army.
"Two platoons of Army are on their way to join in the rescue work," Parrikar said.
Subsequently, the government announced cancellation of the event in the wake of the mishap.
A large crowd had gathered at the site initially hampering the rescue operation.
Meanwhile, dead bodies retrieved from the debris have been sent to a state-run hospital in Margao town.