The aircraft went down in a populated area, resulting in the deaths of both pilots on board, the sources said, Xinhua reported.
Three civilians on the ground were also injured in the incident and were shifted to a nearby hospital for medical treatment, according to the sources.
Rescue and emergency teams rushed to the crash site and launched relief operations shortly after the accident.
An inquiry into the incident has been launched, the sources added.
Pakistani Interior Minister Mohsin Naqvi expressed grief over the crash, conveying his sympathy and condolences to the bereaved families of the victims.