Pitam Singh (80) was sitting in his dairy when some persons entered there and began firing indiscriminately killing him on the spot, they said.
His grandson Vikky was injured and was rushed to a hospital where his condition was stated to be stable.
Police officials said that it appeared that the incident was the fallout of a monetary dispute.
A probe is on and no arrests have so far been made, a police official said.
Disclaimer: No Business Standard Journalist was involved in creation of this content