An 86-year-old Hyderabad-based industrialist was allegedly murdered at his residence by his grandson over a property dispute. The victim sustained multiple stab wounds, police said on Sunday.

The incident occurred on the night of February 6 when the accused, K. Kirti Teja, aged around 28, attacked his grandfather, VC Janardhan Rao, the chairman and managing director of the city-based Veljan Group, with a knife, resulting in his immediate death, the police said.