Among the 14 killed are seven children and six women. The man allegedly killed them by slitting their throats after sedating them, reports NDTV.
The accused has been identified as Hasnil Warekar of Kasarwadi. A property dispute is believed to be the reason behind the murders, police sources said.
One woman of the family survived the attack and has been hospitalised.
The man was reportedly found hanging with a knife in his hand.