The deceased was identified as Shenny of JJ Colony, Vikaspuri, in west Delhi.
Some visitors to the park informed the police in the morning when they saw the youth's body lying there, with a long chain hanging from his neck.
According to his father, Hira Lal Sharma, he had taken Rs 90,000 from him after which he went missing for almost 10 days.
"We searched for Shenny everywhere. We were informed that he was living with some friend. But when we visited the place, he was not even there, though his bike was standing there," Sharma said.
"This is not a case of suicide... He has been murdered for money, perhaps by the same friend, with whom he was living these days," the bereaved father alleged.
The police said the body has been sent to Deen Dayal Upadhyay Hospital for post-mortem examination.
"Although the investigation is going on, further details can be shared only after the forensic report is received," a senior police officer said.