Nishan was attacked following an altercation late last night with some youths in Balmiki Colony, Station House Officer (SHO) Gurmeet Singh said.
The assault was carried out with sharp weapons and swords by a group of youths, Singh said, adding police team rushed him to Government Medical College hospital where doctors declared him brought dead.
Police said that two youths, identified as Sunny and Rahul Bhalla, had been arrested in connection with the murder and a motorcycle seized from them while a manhunt is on to nab the other accused.