Three men barged into the house of Dileep Kundamal in Kasar Ali locality of Bhiwandi at around 4 AM, Nizampura police station inspector M R Thithe said.
The trio stabbed Kundamal with a knife and robbed some valuables from the house before fleeing, he said.
The victim's body has been sent for post-mortem to IGM hospital.
Offences have been registered against the unidentified assailants under sections 302 (murder) and 394 (voluntarily causing hurt in committing robbery) read with 34 (acts done by several persons in furtherance of common intention) of the IPC, the police officer said.