A powerful blast rocked the Panchvati area of Nashik city Wednesday afternoon, killing atleast three people and injuring seven. The blast occurred inside a three storey building which suffered huge damages. While some people are still believed to be trapped inside the debris, the number of injured is still not clear. The blast was so powerful that glass windows of neighboring buildings were splattered and vehicles that were parked in that area also suffered damage.State Chief Minister, Prithviraj Chavan accompanied by Revenue Minister, Balasaheb Thorat and Public Works Minister Chhagan Bhujbal visited the injured people at the local hospital. Later addressing the media, Mr. Chavan announced a compensation of 1 lakh rupees for the families of those killed and 50,000 for the injured. About the cause of the blast, Mr. Chavan said that the local police officers and a team of Maharashtra ATS are investigating the spot and collecting clues. He refused to comment on media rumors that it was a gelatin blast and said that the exact cause of the blast will only be ascertained after the forensic report comes out.Meanwhile, police sources have ruled out the possibility of a terrorist sabotage and are suspecting the cause of the blast to be some explosive material stored in the ground room flat of the building.