Mahadev Jha allegedly strangled Vilayat Chand Setia in September last year. He was arrested yesterday.
Jha used to first identify his targets and later carry out his operation at night, police claimed.
Setia had gone to a wine shop on the fateful day. Jha had dropped him home in his rickshaw.
"While in the process of committing theft, Setia got up and saw the accused. The deceased challenged the accused who then strangled Setia and decamped with cash and jewellery," police said.