The victim, Afzal Beg, was seriously injured after being attacked on Monday by a group of people and he succumbed to his injuries in a hospital yesterday, police said.
The eight accused, including Amol Ghuge (22), son of a police constable, were arrested during a manhunt carried out for two days starting yesterday, they said.
Police suspect that some previous enmity led to the fatal attack on Beg.
Beg and his friend were on a bike when they came across Ghuge, who was also riding a motorcycle. On seeing each other, the two stopped their bikes and got into an argument, police said.
Crime Branch is probing the case.