The Maharani Bagh builder, who reportedly entered into a suicide pact and killed his wife and two and a half year old daughter earlier this month has been arrested.
Mohammad Sayyed Abbas was arrested on charges of murder after he was discharged from hospital.
Police said financial crisis had forced him to take the extreme step. Abbas had bought a plot of land in Greater Noida for Rs 15 crore.
He had paid an advance of Rs 2 crore and had collected Rs 4 crore from several people as a token amount for the pre launch scheme.
Police said a financial firm, who had promised to arrange a loan of Rs 9 crore cheated him.
This forced him to take the extreme step and he entered into a suicide pact with his wife Neelam. First he killed his daughter Zenab and then his wife.
After that he tried to end his life but survived the suicide attempt. He was shifted to AIIMS Trauma Centre from where he was arrested.