The victim, identified as Sanjay Pehlwan, worked at the wholesale vegetable market near Jahangirpuri. He lived in Mahindra Park with his wife and son, said police.
It is suspected to be a case of personal rivalry and Pehlwan's close associates are under the police scanner. Pehlwan's relatives have told the police about his heated arguments with some associates yesterday night, said a police officer.
However, the police are yet to zero down on any suspect. The incident was reported to the police around 5.30 AM after unidentified assailants opened fire on Pehlwan and fled the scene.
The police have registered a case under Section 302 (murder) of IPC and they are questioning Pehlwan's relatives, neighbours, friends and business associates. Investigation is underway, said DCP (Northwest) Vijay Singh.