The accused, identified as Mohammad Samshaad, is the younger son of the elderly man and attacked his relatives over a property dispute, police said today.
The incident was reported on Thursday evening.
The victims -- Yusuf Khan (70), Shamina (40) and her son Janbaaz (17) -- were rushed to GTB Hospital, police said, adding that Samshaad had fled from the spot.
While Shamina died last night, Khan succumbed to his injuries in the wee hours today. Janbaaz's condition is said to be critical, police said.
According to the police, Yusuf had sold a piece of ancestral land at his native village near Ghaziabad's Loni and kept the money in the custody of his elder son, Zulfikar, husband of Shamina and father to the teenager.
Things went wrong when Samshaad started demanding his share and Zulfikar, who was aware of his younger brother's conduct, refused. They had a heated argument last night after which Samshaad allegedly tried to attack Zulfikar with the cleaver, police said.
Neighbours reported the matter to the police and the three of them were rushed to GTB Hospital. A case was registered at Nanad Nagri police station and a police team was constructed to track down Samshaad, police added.
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