Updated

A multi-story building collapsed in India's financial capital of Mumbai early Friday, sending rescuers racing to reach dozens of people feared trapped in the rubble.

At least one person died and seven people have been so far pulled alive from the building and rushed to hospital, said Alok Awasthi, local commander of the National Disaster Response Force.

"Approximately 80 to 90 people are believed to be left behind in the building and trapped," Awasthi said, citing reports from his team on the scene. He spoke by telephone on his way to the building site.

The five-story residential building collapsed just after 6 a.m. near Dockyard Road in the city's southeast.

It was the latest of several Mumbai building collapses this year. At least 72 people died in April when an illegally constructed building fell down, and a few weeks later a section of a hospital crumbled, injuring at least eight.  In June, at least 10 people, including five children, died in when a three-story building collapsed.

Across India, building collapses have become relatively common. Massive demand for housing around India's fast-growing cities combined with pervasive corruption often result in builders cutting corners by using substandard materials or adding unauthorized floors.