"The arrested British national Murray Ward has been in India since last October," Ishwar Singh, deputy commissioner of Delhi police, told new agency AFP.
"We have charged him under POCSO (Protection of Children from Sexual Offences) Act", Mr Singh added, saying Mr Ward was being held in police custody for further investigation.
Mr Ward, who was arrested yesterday, faces a minimum 10 years in prison if convicted.
No comment was immediately available from the British High Commission in New Delhi.
Police said Ward, who is married with a family in the United Kingdom, had been employed in a senior managerial position at a company in India before quitting his job in April.
"It appears he is a paedophile based on (the content of) his laptop, mobile and personal chat history," Mr Singh said, without elaborating.
Police will enlist a child psychologist to speak with the boys who raised the complaints -- whose ages and identities have not been revealed.
Authorities will also speak with other children at the hostel, which houses and educates around 170 visually-impaired students.
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections. Election results will be out on May 23.