Bhupender Singh Tanwar allegedly stabbed his wife Poonam, mother-in-law Kausalya and brothers-in-law Pankaj and Ankur.
"Acting on a secret information, Bhupender was today arrested from Nangal Rai area of Delhi where he had come to borrow money and was planning to leave India through Nepal," said a senior police official.
The official also said efforts are being made for the recovery of blood-stained clothes of the accused.
All the victims were rushed to hospital, where Kauslaya was declared 'brought dead' and Poonam succumbed to her injuries later.
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