Monu Kumar Gupta (45) and his wife Neelam (43) were on the run for more than five years.
They had forged documents, including Aadhaar and voter ID cards, and were living under fake identities.
In 2012, a few people approached police, complaining that they had been duped by the couple.
The complainants had bought a property from the duo in Kotla Mubarakpur for Rs 20 lakh.
A few days later, officials from the Union Bank of India, Darya Ganj, told them the couple had taken a loan of Rs 30 lakh and had mortgaged the property, said Romil Baaniya, Deputy Commissioner of Police (South).
More From This Section
The police during a raid on the rented accomodation of the Guptas in Devli Extension came to know that they had moved out.
The couple was declared proclaimed offenders by a city court on June 1, 2016.
Police learnt that the duo were staying in southwest Delhis Bindapur under fake identities.
They were nabbed from South Extension part III two days ago.