The bodies of Sharad Agrawal (50) and his wife Jyoti Agrawal (45), having stab wounds and strangulation marks, were found in separate rooms at their farmhouse in Martand Nagar late last night, Rajendra Nagar police station incharge Dharmveer Singh said.
The couple's domestic helps and guards working at the farm house were missing since last evening, Singh said.
The deceased used to run a water purifier manufacturing unit in the city, he said.
The house was suspectedly also burgled by the culprit, police said.
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Senior police officials and forensic experts visited the spot last night, he said.
Based on a video footage obtained from a camera installed in the house, the role of a gardener, Sukhlal, was suspected in the murder, SP-West Anil Kushwaha told reporters here.
Inspector-General of Police (Indore Division) Vipin Maheshwari has announced a reward of Rs 15,000 leading to any link and arrest of the culprit, he said.
The assailant apparently used pieces of glass to stab the couple, Kushwaha said.