Police said the Principal Suresh (55) of Infant Jesus College of Engineering at Vallanadu died on way to hospital.
The three students have been arrested, they said.
Police said initial investigation found that the principal had asked the three students to vacate the hostel, following complaints of alleged ragging and certain other acts of indiscipline.
Enraged by his directive, they hacked him to death, police said.
In the wake of the incident, the college had been closed for the day.
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