Deputy Commissioner of Police (DCP) Dhruman Nimble said the house belonged to Raj Kumar Agnihotri who is a distributor of Samsung electronics and had a showroom here at Sunder Nagar locality.
The family is believed to be a staunch follower of Asaram Bapu and it was alleged that they provided shelter to his son Narayan Sai, when he was on the run after being named in a criminal case.
Pushpa Devi, wife of Raj Agnihotri, told the police that the robbers, though were not in police uniform, introduced themselves as a team of Gujarat Police which had come on a special mission.
They robbers forcibly entered the house and also manhandled the security guard posted at the gate and took him inside the house at gunpoint.
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They took the family members at gunpoint including Agnihotri's wife and two daughters-in-law and locked them in a room.
Later, Agnihotri told police that the robbers had decamped with 200 Tolas of gold Jewellery and cash to the tune of Rs 12 lakh.
Police Commissioner Jatinder Singh Aulakh told reporters that there were five robbers who managed to escape in a white car.
Police were searching the footage of CCTV cameras installed nearby.