The two accused, identified as Malkiyat alias Lala (28) and Govind alias Nikku (20) have been arrested by the police.
The deceased has been identified as constable Karamveer (32) who hailed from Jhunjhunu district of Rajasthan.
The incident took place at around 12:40 AM when Karamveer and a home guard, identified as Surender Singh (39), were patrolling near Jhangola village and had received a tip-off about the movement of suspected liquor mafia on a bike in the area.
As both of them fell down after the rider lost control of the bike, Singh caught the other person. Suddenly, Lala pulled out a pistol and shot the constable in his chest, he added.
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Karamveer collapsed on the ground while the assailants fled toward the village on their bike. The constable was taken to Satyawadi Raja Harish Chandra Hospital in Narela where he was declared brought dead.
Both the accused were arrested in the morning after a case of murder and under other sections of IPC was registered in this connection.
The constable, was inducted in Delhi Police in 2006, and was posted in Alipur police station for over one and half years and lived in Narela's Police Colony. He is survived by his wife and two sons, aged five and seven years.