Prakash Soni (38) was going to hand over jewellery to one of his customers in the posh area last night when he was shot, police said.
Soni got out of his car and was heading towards the customer's residence when he was attacked, police said, adding that he died on the spot.
Cops said that jewellery estimated to be worth Rs 2 lakh was estimated to be stolen from him.
Five bullets were fired at him, of which three pierced his body. There were no eyewitnesses to the incident but people rushed to the spot after hearing the bullet sounds.