The condition of two others are said to be critical, they said.
According to police, they received a call around 1 AM that three persons were bleeding profusely and lying near a park in the area.
A police team rushed to the spot and the injured were taken to a nearby hospital, where one of them, Vinod was declared dead, while the other are undergoing treatment, they said.
According to a senior police official, following the argument, the group stabbed the three men and fled from the spot.
"We are scanning the CCTV footages of the area adjoining where the incident took place to ascertain the sequence of events," he said, adding that teams have been formed and a few suspects from Dakshinpuri have been identified and raids are on to arrest them.
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