The incident took place last night. Police said around 10 pm, they were informed about an injured man lying on a footpath near a residential complex in the locality.
He was taken to a hospital where he was declared brought dead, they said.
The man was later identified as Dasrath Mukhia, a resident of Tughlakabad Extension, who was working as a cook in Greater Kailash, police said.
Footage gathered from CCTV cameras in the area showed the men chasing Mr Mukhia and attacking him. Two deep stab wounds were found on his chest, they said.
Mr Mukhia's personal belongings such as his cellphone and money were taken by the assailants, indicating that robbery might not have been the motive behind the killing.
However, Deputy Commissioner of Police, South, Romil Baaniya said that they are probing all angles and possible motives.