The duo, identified as Sonali Bhind (28) and Ashish Upadhyay (29), used to splurge the stolen money for their enjoyment by visiting hill stations like Lonavala and Mahabaleshwar in state.
According to police, Sonali, who claims to be employed with a private firm, and Ashish, who is in the last year of engineering, have been in a relationship since last seven years. They were arrested on Monday.
So far three complainants, all neighbours of the duo, have approached the police.
"In two incidents in October and November, the accused had stolen valuables and money worth Rs 4 lakh and Rs 1 lakh, respectively. One more complainant has also approached police," the officer said.
Further investigations are on, he added.