The girl was also seriously injured in the mishap which took place at Ashwini Nagar Colony in Samangaon area late Thursday night.
Nanda, 16, and her father Vijay Godhade, 38, were attending a 'haldi' program ahead of her cousin's wedding at the five-storey residential building, said an official of the Nashik Road police station.
Standing on the terrace, Nanda lost balance and fell down. Alerted by people's shouts, her father, who was on the ground floor, tried to catch her and arrest her fall, police said.
Both were rushed to the Nashik Civil Hospital where the doctors declared Vijay Godhade dead on arrival.
The girl was undergoing treatment, police said, adding that they have registered a case of accidental death.