Dinesh Gandhi has produced movies like Armaan and Tezaab.
Six fire brigade personnel, including two officers, were also injured while carrying out the rescue and fire-fighting operations.
The fire erupted on the 12th floor of the 26-storey Mont Blanc building in upscale Kemps Corner area. Huge flames were seen emanating from the floor.
"Seven residents from the building have died in the blaze. Identification of some of the residents has been made, while others could not be identified as they have been badly burnt. The victims were declared dead in the BMC-run Nair Hospital," officials told PTI.
The injured firemen are being treated in the civic-run medical facility and also at the National Burns Centre & General Hospital at Airoli in adjoining Navi Mumbai. Cooling operation on the gutted floor is still underway, they said.
About 14 fire engines, aided by seven water tankers, engaged in fire-fighting operations for several hours to putout the inferno. The cause of the fire is not yet known.
(With PTI inputs)