Police said they have not recovered any suicide note from the house of the deceased but initial investigation showed he was possibly frustrated over not getting married.
The deceased, identified as Seemant Raj, had not been returning home for the last several days.
"He had returned only after repeated requests from the family last night and retired to his room after dinner," said a police officer.
However, his sister woke up at around 1 am and found the light switched on in Raj's room. When she went to switch off the light, she found him hanging from the ceiling fan with a rubber pipe around his neck, police said.
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The body was sent for a post-mortem to Guru Tegh Bahadur Hospital and later handed over to his family.
Police said they are trying to ascertain the exact cause of Raj taking the extreme step.
Investigations have brought out that the deceased's property business was running fine and he was also constructing a building at central Delhi's Paharganj.