The bodies of Farooq Umar (80) and his wife Aziz Fatima (70) were found lying on the floor by their maid this morning.
According to preliminary reports, the couple appeared to have been strangulated, police said.
The couple did not have any children and lived alone in their bungalow.
Umar was an alumnus of Aligarh Muslim University and a respected figure in the society, especially in AMU circles.
Police said the entire house had been ransacked. The killers appeared to have gained entry after breaking an iron grill in the bungalow's veranda, they said.