Popularly hailed as the first female superstar of Hindi cinema, the actor was in Dubai with her husband Boney Kapoor and younger daughter Khushi to attend nephew and actor Mohit Marwah's wedding.
The actor had married film producer Boney Kapoor with whom she had two daughters.
Her sudden death shocked Bollywood and legions of her followers who reached outside her Mumbai house.
Prime Minister Narendra Modi tweeted his condolences. "Saddened by the untimely demise of noted actor Sridevi. She was a veteran of the film industry, whose long career included diverse roles and memorable performances. My thoughts are with her family and admirers in this hour of grief. May her soul rest in peace," he said.'
President Ram Nath Kovind tweeted: "Shocked to hear of passing of movie star Sridevi. She has left millions of fans heartbroken. Her performances in films such as Moondram Pirai, Lamhe and English Vinglish remain an inspiration for other actors. My condolences to her family and close associates."
Sridevi's colleagues in the film industry too posted messages.
I just heard Ma’am Sridevi passed away due to a massive cardiac arrest. I am in shock...cant stop crying...
- sushmita sen (@thesushmitasen) February 24, 2018
Have witnessed Sridevi's life from an adolescent teenager to the magnificeint lady she became. Her stardom was well deserved. Many happy moments with her flash through my mind including the last time I met her. Sadma's lullaby haunts me now. We'll miss her
- Kamal Haasan (@ikamalhaasan) February 25, 2018
Sridevi, who made her acting debut at the age of four, had many big hits like "Chandni" and was especially noted for her impeccable timing as a comedienne.I have no words. Condolences to everyone who loved #Sridevi . A dark day . RIP
- PRIYANKA (@priyankachopra) February 24, 2018
She took a 15-year-long break from movies in 1997, a year after her marriage. She returned in 2012's "English Vinglish". Sridevi stunned fans with her performance as a villainous queen in "Puli", which also marked her comeback to Tamil cinema after a gap of more than two decades.
On her Twitter handle, Sridevi - who had last retweeted a tribute performance originally pictured on her - preferred to describe herself as "Actor-MOM-Housewife-Actor Again!"
Last year, she was seen in revenge-drama -- "Mom" -- opposite Nawazuddin Siddiqui and Akshaye Khanna. She shot for a special appearance in superstar Shah Rukh Khan's upcoming film -- "Zero" -- which releases in December.
A versatile actor, Sridevi made her Bollywood debut in 1978 with "Solva Sawan".
Sridevi had worked in Tamil, Malayalam, Telugu, Hindi, and Kannada. She was awarded with Padma Shri, the fourth highest civilian award, in 2013.
Movies like "Mawaali" (1983), "Tohfa" (1984), "Mr India" (1987) and "Chandni" (1989) kept her at the top in the box-office game, films like "Sadma" (1983), "ChaalBaaz" (1989), "Lamhe" (1991), and "Gumrah" (1993) earned her critical acclaim.
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Watch her interview to NDTV ahead of the release of her last Hindi movie Mom: