The victim, identified as Gopal Moharana and a carpenter by profession, had wounds on his throat, hands and belly. His body was sent for postmortem, deputy commissioner of police Satyabrat Bhoi told reporters.
Police along with a scientific team rushed to the spot and launched a probe after seizing the blood stained saw that was apparently used for the crime, he said.
The victim and his brother Bhagabat stayed at a rented house at Unit-4 market area for the past 25 years and worked together at a workshop in the market.