Pune: Apparently upset over financial instability, an unemployed man strangulated his mother, wife and seven-year-old daughter in Wanowrie area and surrendered before the police yesterday.

According to the police, 40-year-old Sagar Madhav Gaikwad took the step due to unemployment as well as his inability to pay back loans.

Sagar strangulated his mother Shakuntala (60), wife Kavita (34) and daughter Ishita (7) last afternoon after which he also tried to commit suicide by hanging himself from the ceiling fan but could not succeed.

Later, he spent the night with the three bodies in his apartment, the Wanowrie police said.

Sagar surrendered before the police this morning and has been arrested, they said, adding the bodies have been sent to Sassoon Hospital for post mortem.

He told the police that he had borrowed loans from several banks and individuals. Sagar was jobless for a long period and could not repay his loans after a set back in the stock market. He was frustrated by extreme harassment by banks and other individuals from he had borrowed money.