Assistant Police Sub Inspector Girish Kumar of the Elamakkara Police station was stabbed by the thief near Kochi's Edappally Metro Station
Police identified the arrested men as Orrakam panchayat member N T Shibu, 31, of Vengara, Mahit, 34, of Manjeri, Krishnaraj, 28, of Kavanoor, and Saseedharan, 32, of Kottakkal.
The police have arrested three youths over a chain-snatching case.
The victims include a mother and daughter who have claimed to have lost 35 sovereigns of gold ornaments and two mobile phones.
The burglary was committed after breaking open one of the big windows of the house.
Six incidents of chain snatching including one in which a woman police officer was targeted, were reported.
They have their base in the infamous 'Thiruttu Gramam' which had hit national and international headlines many times as a land of thieves.
The police said they suspect the killing was the fallout of a robbery bid.
The police had earlier said that amount to the tune of Rs 3.5 crore was in the car and that they had clear leads on which all accused were in possession of the money.
The woman, 31-year-old Asha, was attacked and her ornaments robbed off while she was on board the Guruvayur-Punalur Express train on April 28.