The body of M P Agrawal (59), retired BHEL Deputy General Manager (DGM), was found in a decomposed state two days ago.
The deceased had taken voluntary retirement from service and was living alone at his Alkapuri residence.
He has left a handwritten suicide note dated March 26, which mentions that he was under depression because of property-related disputes.
The suicide note also mentioned that his property in Indore was sold off by his brothers-in-law, who were also eyeing his Alkapuri residence here, the police said.
Though his brother tried to call him on Holi, he did not respond, after which the police reached his house, only to find him dead.
BHEL sources said that Agarwal's voluntary retirement scheme (VRS) application was approved this month. The former BHEL official had separated from his wife who lives in Indore.
His two children, a son and a daughter, are married and settled in the US and Bengaluru respectively, the police said, adding that efforts to contact them over phone proved futile.
The deceased's elder brother, who also lives in the state capital, met him before Holi and on that day, and the retired official had hinted that he was depressed because of
When he went to visit the official again, he found his residence's door shut from inside and got no response, after which he informed the police.
The police arrived and found his residence's doors locked but a key was found in the letter box using which the door was opened and his body was found, along with a suicide note which is being examined.
A case has been registered by the Bagh Sevania police station and further investigations are on.