Bhola (25) and Kartik Yadav (24), who sold Chinese food at a roadside stall, were found dead in their residence in Mundka village in outer Delhi, a senior police official said.
Their heads were smashed with an iron rod, the official said adding it was recovered from the room.
Police suspect their roommate, who is also from Nepal, to be behind the double murder.
"The third one is absconding and we suspect that their he could have carried out the killings. A search is on to nab him," the official said.
A case of murder was registered at the Mundka police station.
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