The body of a 18-year-old man, with his hands and legs tied up, was found inside the Deer Park in Dilshad Garden on Sunday morning, police said.
The man was identified as Sahil, a resident Kalander Colony, they said.
A police patrolling team was informed about the incident by a passerby, following which they rushed to the spot and found the body, a police official said.
The body had deep cuts on head and neck, the official said.
Sahil's family told police that he left his house on a scooter on Saturday at around 11.45 pm and did not return home since then, the official added.
Police said the scooter was found outside the park.
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"A case of murder has been registered and we have rounded up a few suspects," said Deputy Commissioner of Police (Shahdara) Amit Sharma.
The officer said all angles, including that of monetary dispute, are being probed.