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The incident took place last night, in which the victim, Surendra alias Gharya Shejval, a resident of Canal Road, located near Nashik Road Central Jail, died on the spot, police said.
Police suspect that political rivalry could be the motive behind the murder.
Shejval had recently quit the Maharashtra Navnirman Sena (MNS) and joined the Shiv Sena. He was aspiring to fight the NMC polls, scheduled to be held on February 21, on Shiv Sena ticket.
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His body was sent to Nashik Civil Hospital for post mortem, police said.
After the incident, tense situation prevailed in the area and police were deployed at the spot.
A case has been registered at Nashik Road Police Station and the unidentified accused have been booked under IPC sections 302 (murder), 147 (rioting), 148 (rioting, armed with deadly weapon), 149 (every member of unlawful assembly guilty of offence committed in prosecution of common object).
Further investigation into the case is on.