The deceased was identified as Md Mamun Matubbar, 40, son of Sobhan Matubbar.
Officer-in-charge of Kotwali Model Police Station Md Nurul Islam said Mamun had an argument with Md Rabbi over a piece of land at Rupatoli Bus stand area in the evening.
At one stage of the dispute, Rabbi hacked Mamun with a sharp weapon leaving him severely injured, OC said.
Doctor declared him dead after on arrival at the hospital, he added.
Police have arrested Rabbi in this connection, he said.
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