According to the police officials, the incident took place when Chavan and Babbar had gone to see a plot of land near Nande village, which the latter was thinking of purchasing.
The officials said that after reaching the village, two people who knew Babbar, aged between 25 and 30, got into the car and showed him the plot. He, however, rejected the plot by saying that it was less than 15 acre.
PI Ganesh More of Paud police station said after Babbar and Chavan started walking back towards the car, one of the accused shot at Babbar and the other one stabbed him with a sharp object.
Chavan said the suspects also tried to kill him, but he managed to escape. He then approached the Paud police station and lodged a complaint against the killers.