The plane, which crashed in the Jagruti Nagar locality shortly after 1 pm today, once belonged to the Uttar Pradesh government and was sold to UY Aviation, an official said.
As reports of the crash came in, police, fire brigade and disaster management teams rushed to the spot and bodies of those killed were taken to the nearby Rajawadi hospital in Ghatkopar.
Four fire engines and as many water tankers were rushed to douse the fire that occurred after the plane crashed.
Black-box of the ill-fated chartered plane was recovered. However, there was no clue on the cause of the crash.
The Aircraft Accident Investigation Bureau will conduct a detailed probe into the chartered plane crash.
"The aircraft took off from Juhu airport for a test flight. There were two pilots and two aircraft maintenance engineers on board. All of them, along with one person on the ground, are dead," a DGCA official said.