Senior Superintendent of Police SSP Anant Dev told reporters that former gram pradhan Ammar Ali was allegedly shot dead by Sandeep, Rahul, Brijender and Amir.
They had received Rs five lakh for killing Ali, he added.
The police has also recovered four pistols, two motorbikes, a car and five mobile phones from their possession, the police said.
Ali was shot dead by some miscreants over old enmity in K Kotwali police station area here on August 22.