Adil Banne Khan (23), Juned Salim Ansari (19) were arrested and a juvenile apprehended by Mumbai Crime branch from suburban Bandra late last night, they said.
While Khan, the main accused, is a resident of Delhi's Mansarovar Park, the two others belong to Aligarh in Uttar Pradesh.
"Adil and one of his associates have been arrested, while another associate, who is a juvenile, has been apprehended from Bandra," Sanjay Saxena, Joint Commissioner of Police (Crime) told PTI.
Yesterday, Unit-9 of Mumbai Crime Branch received information that Khan and two of his associates were hiding somewhere in Bandra East, a police official said.
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Subsequently, a search operation was carried out in the area and all the three accused were arrested, he said.
According to police, Riya Gautam alias Charu (21), was stabbed multiple times on July 5 by Khan, who was allegedly stalking her. She succumbed to her injuries the next day at a hospital in Delhi.
An offence of murder was registered against Khan at Mansarovar Police Station after Riya's death but the accused was absconding since then.
The woman, a resident of Ramnagar area in Mansarovar Park, was attacked by Khan in a busy market.
A CCTV grab of the incident shows the accused attacking the woman and she running away from him. After some time, the accused can be seen fleeing from the spot, a police official said.
The victim and Khan had a fight near her house that day following which she was attacked. In an attempt to save herself, she rushed to a shop for help but nobody was present there, police said.
She was later rushed to a hospital.
According to police, the victim and the accused were known to each other for the last one year. However, after some time, she distanced herself from him and her indifference irked him.
She approached the police with a complaint against the accused in April but he got a whiff of the matter and when his house was raided, it was found that he had fled to Gujarat.