The gruesome incident took place last night.
Devichand Bramhane, the accused, hacked to death his wife Sangita (36), daughters Nisha (14) and Neha (11) with an axe, and strangled his seven years old son Harshavardhan, police said.
He surrendered at Loni police station this morning and confessed to the act, said the additional superintendent of police Sanjay Jadhav.
Police recovered the axe used by Bramhane for the crime from his house, Jadhav added.
As per the preliminary probe, Bramhane was distressed as he had no job and was worried about the family's future, which led him to commit the horrific crime. Further probe is on.
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