A 24-year-old man was arrested and a minor was detained on Thursday for allegedly killing a 15-year-old boy at Bapgaon in Kalyan tehsil of Thane district.
Soham Bajage, the victim, had gone missing from the housing complex where he lived on Wednesday afternoon.
His body was found in a closed flat in the same building around 9.30 that night, said senior inspector Dinesh Katke of Padgha police station. He was found to have been strangulated.
The probe revealed that two of his friends killed him in order to steal a gold chain, he said.
One of the accused was identified as Akshay Waghmare, while the other, being a minor, has been sent to a remand home.
Further probe is on, said inspector Katke.