Sameer Bharaskar (34) was found hanging from ceiling while his mother Meena (55) and another woman identified as Fatima Sheikh (60) were found lying dead on two beds in the same room, said a senior police official.
Sheikh was an acquaintance of the family who used to take care of Sameer when he was a child, police said.
Preliminary probe suggested that Sameer could have killed the two women before committing suicide, said the officer, adding that autopsy reports were awaited.
There was a gap of about four hours between the death of Sameer and that of two women, the police officer said.
The three were living in the transit camp for the last nine months. Sameer worked at a vada-paav eatery in Andheri and was said to be facing a financial problem. Further probe is on.