Those who died were identified as Mohar Bai Manhare (50), Pancho Gahare (32) and Puneet Kumar Manhare (22), residents of Sakra village in Silatara locality, Raipur.
The incident occurred at Santoshi Nagar locality under Tikrapara police station limits in the city on Thursday afternoon. The youth was identified as Sameer Ulla (21), a resident of Uttar Pradesh's Gonda district. He is undergoing treatment at AIIMS hospital in the city.
A 42-year-old man, employed at Wagon Repair Shop, was arrested in connection with embezzlement of around Rs 1.80 crore in Chhattisgarh's Raipur on Wednesday, the police said.