The death toll due to wall collapse in Pimpripada area of Malad East rose to 23 on Wednesday.
More than 70 people have been injured in the incident which occurred due to heavy rainfall.
Earlier, Additional Municipal Commissioner of Brihanmumbai Municipal Corporation (BMC), Ashwini Joshi said that the state government will provide Rs 5 lakhs as compensation to the families of the people killed in rain-related incidents while the BMC too will pitch in a similar amount.
"The state government has promised a sum of Rs 5 lakhs to the families of those who died in Mumbai, including the victims of the wall collapse in Malad. The state government has also urged BMC to give a similar sum to the victims. Meanwhile, we are taking care of all expenses related to the treatment of the injured people," Joshi said at a press conference here.
Maharashtra Chief Minister Devendra Fadnavis and Minister of State for Urban Development Yogesh Sagar have visited Shatabdi Hospital to meet the injured.
Fadnavis also took stock of the situation in the rain-drenched city during a visit to the Brihanmumbai Municipal Corporation (BMC) control room.
National Disaster Response Force (NDRF), fire brigade and police had rushed to the spot to rescue those trapped under the debris.
( With inputs from ANI )