The collision was so severe that the vehicle went rolling and it was so badly damaged that the roof of the car had to be cut to drag the body out, said a senior police official.
The deceased has been identified as Sunit Balwani, a resident of Ashok Vihar and a businessman by profession.
The incident took place at around 4.15 AM, when Balwani was returning home from Narela, where his father owns a factory.
"It seems that he lost control over the car which was apparently over-speed when he had reached near the Ambedkar hospital while going towards Madhuban Chowk following which the vehicle rammed into a metro pillar on the red line and was badly damaged.
Police are now trying to confirm the cause of accident and is look out for an eye witness or CCTV footage to verify the sequence of accident.
"We have to also check if Balwani was driving in an inebriated state. The body has been sent for post mortem and the vehicle has been impounded. We probing the incident from all the possible angles," the official added.