The incident occurred this morning when Bhupinder Singh, Sarpanch of Jhamat village, was sitting in his car outside a gym in south city locality, police said.
Meanwhile, the victim's brother Narindra Singh and his friend Amrindra Singh 'Soni' came there in a car and after a brief chat Narindra allegedly fired three shots at Bhupinder, police said.
On hearing the gunshots, gym employees came out and rushed him to a nearby hospital where he was declared brought dead, police said.
The CCTV cameras installed at the gym and on the road have recorded the entire incident, Additional Deputy Commissioner of Police, Parmjit Singh Pannu said.
Dispute over property could be the reason of murder, he said.