The assailants fired five rounds at Devendra Shah in front of his son on the plush Prabhat Road around midnight last night. Two of the bullets hit Shah, an official said.
Police have retrieved a CCTV camera footage of the area in which the two assailants are seen.
The two assailants came near the building in which Shah resided in Lane No. 7 on Prabhat Road and started arguing with a man who runs a laundry business there.
"One of the assailants asked the laundry man to summon Shah. The shop owner then called the builder down," Additional Commissioner of Police (South/North region) Ravindra Sengaonkar said.
"Two bullets hit Shah. The assailants then fled from the spot," said Sengaonkar.
The builder was rushed to a nearby private hospital where he succumbed during treatment.
"We have got the CCTV camera footage in which the two assailants are clearly seen coming," the officer said, adding that the assailants had not covered their faces.
Shah's son told the police his father did not have enmity with anyone, Sengaonkar said. The motive behind the killing was yet to be ascertained, he said.
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