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A former Kegalle Pradeshiya Sabha member of the Sri Lanka Podujana Peramuna was found murdered in his home in Kossinna, Kegalle, police said.
The victim, identified as 75-year-old Krishantha Pulasthi, was found with his hands and legs bound on a bed.
Police said the suspects who broke into the house also assaulted Pulasthi's wife, who had her mouth taped shut and suffered injuries during the incident.
She was subsequently admitted to the Kegalle Hospital for treatment.
The suspects stole a vehicle from the residence, which was later recovered abandoned in the Pindeniya area.
The motive behind the attack has not been revealed so far and Kegalle Police are conducting investigations to arrest those responsible.