The incident took place around 7.45 PM when Iqbal was walking on a lane opposite to the shopping malls in the area, where the bikers waylaid him and opened fire, according to the police.
A man was shot dead by allegedly men on bike in South Delhi's Khirki extension area on Sunday.
The 28-year-old has been identified as Iqbal, a resident of Sangam Vihar area, police said.
Police is yet to ascertain the identities of the killers, a senior police officer said, adding that it is also suspected to be a case of personal rivalry.
The incident took place around 7.45 PM when Iqbal was walking on a lane opposite to the shopping malls in the area, where the bikers waylaid him and opened fire, according to the police.
While some eye-witnesses told police that there were two men on the motorbike, some said there were three shooters.
A police team rushed Iqbal to the AIIMS Trauma Centre where he was declared dead on arrival, police said.
A case of murder has been registered at Malviya Nagar police station and a team has been formed to apprehend those involved in the crime, they said.
Police is also monitoring the CCTV footage grabbed from nearby premises.
Iqbal's identity was ascertained with the help of documents from his pocket.
Preliminary investigations reveal that Iqbal had criminal cases registered against him, police said.
Iqbal's relatives told the police that he had received threats from a few local gangs, including one based in south-east Delhi's Madangir area, they said.
Police is also questioning Iqbal's associates, they said.