The accused, Kailash (30), is on the run and the police has launched a manhunt for him.
The incident came to light on Saturday after Kailash's wife spotted her father-in-law, Bhoma Ram, lying in a pool of blood.
She informed the police and he was rushed to a hospital where he died yesterday, said a senior police officer.
Kailash had fled, he added.
Ram had sold a property and had received a token amount for it. It is suspected that Kailash had asked his father to hand over the amount to him but he refused. The son works as a driver and is addicted to alcohol, police said.
Kailash fled but Ram's cries awakened his daughter-in-law who was sleeping in the other room. She rushed there to find that her husband had escaped.