"It is in the character of our people, despite New Year's festivities, to do not forget to think of the dead and wounded at this moment", Putin said.
Russian rescuers were on Monday searching for people still trapped under the rubble of a city apartment block that partly collapsed in a suspected gas blast, killing at least three, the state-run RIA Novosti news agency said. According to the latest data, four people died.
A spokesman said: "Six people have been pulled out of the rubble, three died, three were injured, including a child".
The rescue and search effort is being carried out involving 469 personnel and 66 pieces of equipment.
Officials warned that two more sections of the Soviet-era high-rise on Karl Marx Street were in danger of collapsing.
The regional governor, Boris Dubrovsky, who is at the site leading rescue operations, told reporters that 50 people might still be under the debris.
The Soviet-era high-rise was built in 1973 and was home to around 1,100 people.
The explosion shattered windows of nearby buildings, according to a local resident speaking on Echo of Moscow radio.
Volunteers offered money, clothing and essentials to the victims, and some said they were ready to provide temporary shelter to those in need.
People look at the scene of a collapsed apartment building in Magnitogorsk.
Billionaire Viktor Rashnikov, who controls the plant, called on city residents to help the victims. It said the calamity could have been caused by a gas blast.
Gas blasts have become a relatively common occurrence in Russian Federation over recent years as the country struggles to cope with aging Soviet-era infrastructure and loose safety requirements, according to Reuters.