Hospital sources said the Lone died in the early hours of Sunday.
He belonged to the Chattergul village in Ganderbal.
Tension has once again gripped the district where normalcy had returned in the past week with markets, public transport and other businesses started functioning.
Authorities have deployed security forces and taken other precautionary measures to maintain law and order in the wake of Lone's death.
A special police officer (SPO) who shot Rather has been arrested.
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