Anant Ram, in his 70s, was arrested last evening for attempting to sexually assault the two minors, aged eight and four years, who are the daughters of his tenant.
The incident took place when the victims' mother was not at home and gone out to purchase some household items.
Finding the minors alone at the house, the accused barged into the house and tried to sexually assault them on the pretext of providing them eatables.
The elder sister raised an alarm, following which residents from adjoining houses rushed to the spot and Ram fled from there.
The police was informed after the girls told their ordeal to their mother.
A case under the Protection of Children from Sexual Offences (POCSO) Act has been registered against Ram.
Further investigations are underway, said police. The minors' father works as an executive with a private firm and their mother is a housewife.