The families of Sanchit Chhabra and Ritu Singh, who died on the spot, have decided to donate their eyes, police said.
Rajat, who was behind the wheel, succumbed to injuries during treatment later on, they said. Other injured are Pranav, Garima, Rishab and Raja.
The Honda V-tec car had seven occupants. Police said the injured students, who are receiving treatment at a city hospital, have not regained consciousness yet.
All seven were first-year students of Delhi Institute of Professional Studies. They were on their way to IP College in Narela for their second semester examination when the accident occurred, a senior police officer said.
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The students, who were in their teens, had assembled at Rajat's house in east Punjabi Bagh before leaving for their exam centre, police said. They suspect Rajat might be over speeding.
Police said it is suspected Rajat lost control of the vehicle and it hit the flyover. The impact of the collision was such that the car hurled in the air, police said.
Eyewitnesses told the police there was a loud sound when the car hit the flyover and it was thrown beneath within seconds.
Police said the car belonged to Rajat and he had a valid driving licence. The forensic team inspected the car.
A senior police officer said they are looking at two possibilities-- either the rear tyre got punctured and Rajat lost control of the vehicle, or he was trying to overtake a vehicle which led to the accident.
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