New Delhi, Aug 17 - Five armed men barged into a businessman's house in the national capital, held the family hostage and escaped with a booty worth Rs.700,000, police said Monday.

The heist took place at Surender's Vivek Vihar residence in east Delhi Sunday night, where he had thrown a party on his granddaughter's birthday, a police officer said.

'Five armed men wearing masks knocked at Surender's door around 10.30 p.m. One of the family members opened the door and robbers entered the house at gun point. They huddled them into a room and put a gun at the head of a girl. They threatened to shoot her if an alarm was raised,' the officer said.

According to family members, the robbers ransacked the house and took away Rs.500,000 in cash, jewellery and other articles worth Rs.200,000.

'They locked the family members in kitchen before fleeing and took away their mobile phones to ensure that they could not contact police,' the official added.