The accident occurred around 2 pm at Mukundpur Chowk.
Eye witnesses, who alerted the police about the incident, said the car was moving at a "very high speed", according to a senior police officer.
The driver had apparently lost control of the vehicle, which hit the divider, overturned and dragged for several metres, he said.
The deceased have been identified as Manoj, 26, resident of Kasganj in Uttar Pradesh, and Rakesh, 23, of Delhi's Mukundpur, the officer said.
Both the persons were rushed to a hospital but died, the police said.