Reputed builder Sanjay Biyani -- who enjoyed close connections with several top politicians -- was shot dead outside his home in Maharashtra's Nanded district, police said.
The incident occurred outside his home in Sharda Nagar when two unidentified motorcycle borne assailants came and fired around 8-10 bullets into Biyani.
His driver present nearby was also injured during the daylight shootout that shocked the realty industry.
Locals rushed the injured duo to a nearby hospital where Biyani succumbed during treatment, said a police official.
The motive behind the crime is not immediately clear and the Nanded police is probing from various angles, including possible business rivalries.
Police teams which rushed to the crime scene, scanned CCTV footage outside his home and the entire approach route to the Sharda Nagar locality.
Securing some leads, the Nanded police have launched a manhunt for the killer duo.