According to police, the deceased, identified as Deepak, had gone to buy vegetables in the market when he was fatally attacked.
"As he was about to get into his car, three youths arrived on the spot on a blue motorbike. One of them pulled out a gun and allegedly shot Deepak in the head before the trio fled the spot," said a police official.
Deepak was rushed to a private hospital nearby where he was declared dead.
The manner in which the shooting was carried out has led the investigators to suspect that Deepak was murdered over some personal enmity. His family members and friends, too, are being questioned in this regard.
The body has been sent for a post-mortem and further inquiries are on in the matter, police said.