The woman, an employee of a motor vehicle distributor, and her grandmother were found dead with severe injuries reportedly caused by iron rods.
"Several valuables items and articles including silver are intact in the house. The case is being probed," police said.
"The victims were not seen by neighbours for the last two days and it is suspected that they may have been murdered two days ago," police said.
Neighbours alerted the police after a foul stench emanated from the victims' house.