Causalities could rise as rescue operations continued, officials said.
The incident occurred in the Atladara area in the outskirts of the district at around 4:30 am, when the occupants were sleeping.
Both the buildings reportedly collapsed within a time gap of 20 minutes.
According to chief fire brigade officer HJ Tapariya, about 13-14 families were staying in one of the buildings while the other was vacant.
After the first building collapsed, people evacuated the second one.
The buildings were part of a huge housing complex constructed by the Vadodara Urban Development Authority (VUDA).
There are 54 other similar buildings in the housing complex.
Relief and rescue teams have reached the spot. Two Army columns were also deployed at the site.
"2 columns of Army deployed for rescue operation in building collapse at Vadodara today morning," the India Army tweeted.
Meanwhile, Gujarat Chief Minister Narendra Modi said one of his ministers has also rushed to the site.
"Heard about the collapse of 2 buildings in Vadodara. Rescue operations have begun. My minister colleague Nitinbhai is on his way there," Modi tweeted.
The state government has also set up inquiry commission to probe into the building collapse.
Gujarat Finance Minister Nitin Patel said that the state government has announced Rs 2 lakh compensation for the deceased and the government will take the responsibility of treatment of the injured.
--IBNS (Posted on 28-08-2013)