His son Anil Revri performed the last rites at around 11 AM.
Floral wreaths from the President of India and Vice President were laid on the veteran journalist, who passed away at a city hospital yesterday following a cardiac arrest.
Paying his condolence, Prime Minister Narendra Modi said that Malhotra was a "stalwart" of Indian journalism.
"Shri Inder Malhotra was a stalwart of Indian journalism, whose work will always be respected & remembered. Saddened by his demise. RIP," Modi said in his tweet.
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"In his death, the nation has lost a veteran journalist who served as a role model for others in the profession," said Mukherjee.
Malhotra began his career at the United Press of India news agency and went on to hold editorial positions at leading dailies.
Malhotra was Editor of The Times of India, New Delhi from 1978-86. Before that he worked for The Statesman for 15 years, first as the Political Correspondent and Chief of the Bureau and then as Deputy Editor.