Ibrahim Sheikh, 38, a real estate agent, had plotted the murder of Vinod Broker, 83 and his secretary Usha Nair, 51, nearly a month in advance.
The duo’s burnt remains were found at Khandala in Satara on April 30.
Sheikh, the prime accused, told the Pune crime branch officials that he met Broker in March. He then started negotiating with the senior citizen for the sale of the 40-crore property in Janki Kutir, Juhu. In April, Shaikh decided to kill Broker and Nair and take over the property.
Bhanupratap Barge, inspector, social security cell, Pune crime branch said they were recording the statements of the accused.
Shaikh said he took the help of two other accused, Ravindra Reddy, 37, a Khar resident, and Nitin Bhatiya, 51, a Vikhroli resident, to kill the two.