The Thodupuzha police have arrested Odisha resident Rajkumar Mahapatra, 18, and a relative on charge of robbery.
The police said the duo committed the crime at a house near the Sreekrishna temple at Thodupuzha on September 15 after attacking the house owner and his wife.
The police said two more migrant workers were also involved in the crime and they would be arrested soon.
Escape to Odisha
The duo had escaped to Odisha after the crime. A police team reached Odisha in their pursuit, but by that time the duo had returned to Kerala.
They were arrested from the Olavakkod railway station, near Palakkad, on Monday morning.
The police said the gang had entered the house around midnight and attacked the house owner, who is running a petrol bunk, and his wife, and made away Rs.1.70 lakh in cash and gold ornaments.
The signals of a mobile phone stolen from the house guided the police to the accused.
They were working at wood factories in Perumbavoor, said the police.