The incident occurred last night when the victim, identified as Sanjay Chawla, a financier and property dealer, was returning home from work, they said.
Police was informed about the incident at about 8.25pm, a senior police officer said.
Mr Chawla was admitted to Madan Mohan Malaviya Hospital and later shifted to Max hospital, where he succumbed to injuries today, he said.
A case was registered at the Malviya Nagar police station and an investigation was underway, the officer said.
The case was being looked into from angles, including personal enmity and financial dispute, he said.