The victims were allegedly walking in the informal settlement at 6.15pm when an unknown white car approached them.
Springs police spokesman Capt Johannes Ramphora says the three occupants of the car got out of the vehicle and opened fire on the men.
Community members in the vicinity fled in different directions to escape the line of fire.
One man, aged 42, was shot and killed in the street, while another ran into a nearby shack in an attempt to hide from the gunmen.
The 40-year-old was shot dead in the shack.
Ramphora says the third victim, a 21-year-old man, was shot in the leg.
Paramedics treated the injured man on the scene and transported him to a  nearby hospital for further treatment.
The three armed men then jumped into the white car and drove off.
A case of murder and attempted murder has been opened at the police station.
Ramphora urges the community to assist them with the investigation.
Anyone with information can call 011 365 5700/19/20.
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