Latest figure indicates a total of 62 people have been injured in the tragedy.
Moreover, three officials have been suspended for dereliction of duties, allowing unauthorised building to flourish, in spite of having no clearance for occupancy. Police sources say one of the two accused builders has been arrested.
Police have registered a case of culpable homicide not amounting to murder against the two builders, Jamil Qureshi and Salim Shaikh.
Meanwhile relief and rescue measures are on to bring out dead bodies and survivors from the rubble, left behind by the building collapse.
One more woman has been rescued on Saturday morning. The survivor has been admitted to a hospital to treat her injuries.
Maharashtra Chief Minister Prithviraj Chavan admitted in front of media that building was "illegal". The Chief Minister has ordered an inquiry to find out as why local officials did not spot the construction and stop it.
Lot of questions have been raised regarding the "illegal" construction flourishing in the area where the tragedy occurred.
In spite of repeated pleas from activists to stop illegal construction in Thane, the authorities are paying no heed.
The victims of the tragedy are mostly poor daily wagers working at the construction site and their families.
Seven storeys is said to have come up in less than two months time. The materials used in the building were of sub-standard nature.
"Ninety per cent of buildings in Mumbra are illegal," Thane Municipal Commissioner RA Rajeev told NDTV.