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The accused, Prakash Prajapat (27), was arrested from Toda Meena area in Jaipur’s Jamwa Ramgarh on Monday night, they said.
Prajapat used to live as a tenant at the victim Jamuna Devi’s residence in Meena Colony, police said.
The incident took place in the Galta Gate area at around 5 am on Sunday, they added.
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Meanwhile, Devi who was admitted to Sawai Man Singh Hospital succumbed to injuries during treatment on Tuesday afternoon.
The SHO said on Sunday the accused fled from the spot after robbing the woman and chopping off her feet with a sharp weapon.
A case has been registered against the accused under sections 302 (murder), 397(robbery), 407 (criminal breach of trust), 452 (house-trespass after preparation for hurt, assault or wrongful restraint), of the Indian Penal Code, and sections under Arms Act, he said.
The police said during interrogation, the accused revealed that he robbed the elderly woman to repay his loan.