Siya Goyal and Chetan Chaudhary have been arrested for the murder of Ketan Agarwal at Lohagad Fort.
Police allege the motive was fear of family dishonor associated with breaking an engagement.
The case was initially reported as an accidental fall but was reclassified as murder after forensic investigation.
The suspects are in police custody until June 29 as the legal proceedings move forward.