Hyderabad, Aug 1 : A realtor was shot dead by his rivals in Hyderabad's Madhapur area on Monday, police said. The incident occurred around 4 a.m. near Neerus signal under the limits of Madhapur police station of Cyberabad police commissionerate. Dispute between two groups of real estate dealers over a property is believed to have led to the firing. The deceased was identified as Ismail. Jahangir, who was accompanying him, was injured in the incident which created a scare in the upmarket area. The assailant opened fire from point blank range, killing Ismail on the spot. The injured was admitted to a hospital. Preliminary investigation by the police revealed that there was a dispute between Ismail and Mujahid alias Mujju over a property. Deputy Commissioner of Police Sandeep Rao told reporters that Mujahid had called Ismail and Jahangir for talks on Sunday night. They held talks as they drive in a car through various places in Masab Tank and Banjara Hills before reaching Neerus signal in the early hours of Monday. There was an argument between the two sides. Jeelani, who was accompanying Mujahid, opened fire from a weapon, killing Ismail and injuring Jahangir. After the attack, Mujahid and Jeelani escaped from there. Police have formed four teams to nab the accused. The DCP said the preliminary investigations revealed that Ismail and Mujahid were together doing real estate business in Sangareddy district and recently they developed differences over a property. /IANS