Police have recovered eight stolen bikes from their possession.
The accused, identified as Aarif and Danish, are residents of Sahibabad area of the district.
"Acting on a tip-off, police put up barricades on DLF Road and arrested them late last night. Two knives were seized from them," a police officer said, adding that the duo had confessed to their involvement in a numbers of vehicle theft cases.
Police had recorded statements of the accused, and were interrogating them about their accomplices, the officer added.