Rusy, Rajesh, Ravinder and Mahesh were arrested and a juvenile was apprehended from a park in Rohini in outer district, they said.
"The case has been solved. Four persons have been arrested so far in connection with the case. Two of them have previous criminal record....We are sure that both were committed by the same group," Police Commissioner Neeraj Kumar told reporters here.
He said blood stained clothes, ATM cards and silver coins were recovered from their possession.
Shanti Devi and Rasham Rani, who stay yards away distance from each other's house in Rohini, were murdered on the intervening night of Monday and Tuesday.
The arrests were made based on a specific information that the accused would be gathering near the park in Rohini to commit a similar crime.
A house breaking implement similar to the recovered from one of the houses of the deceased was found in the possession of Rusy and a knife from the possession of Rajesh.
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"They were subjected to sustained interrogation. They confessed their involvement in above two cases of murder with burglary. Accordingly they have been arrested in the two cases," B S Jaiswal, Deputy Commissioner of Police, Outer District, said.
Rosy and Rajesh are found to have previous criminal record.