Two men in their 20s, who live with their parents, have been charged over the kidnapping and murder of mistakenly snatched grandfather Chris Baghsarian.

Daniel Stevens, 24, and Gerard Andrews, 29, will face Blacktown Local Court on Thursday.

They were arrested on Wednesday morning when heavily armed police rammed their front doors and arrested them at two homes in Sydney’s north-west.

Senior police allege the duo and a third unknown person took 85-year-old Baghsarian from his North Ryde house about 11 days ago in a case of mistaken identity.

Daniel Stevens, 24, and Gerard Andrews, 29, will face court on Thursday. Photo: NSW Police

They believe Baghsarian was killed at a makeshift stronghold in a derelict house in the semi-rural Sydney suburb of Dural.

It’s alleged the grandfather’s body was dumped hours later near a golf club in Pitt Town, about half an hour away.

Authorities have confirmed that the human remains found on Tuesday, not far from the road in bushland, are Baghsarian’s. An autopsy will be required to determine how he died.

“It’s somebody’s worst nightmare, right?” Detective Acting Superintendent Andrew Marks said.

“These people need to be held to account for that, and that’s why we are bringing these people before the courts.”

Vehicles, electronics, and clothing relevant to the investigation were seized during the search warrants at Kenthurst and Castle Hill and a third location at Lake Macquarie.

Police are chasing the third alleged offender, while believing more more were likely involved in the incident.

Authorities believe the intended target for the abduction was a relative of underworld-linked Sydney businessman Dimitri Stepanyan, who lived on the same street as Baghsarian.

Marks suspected the intended target was to be kidnapped in hope of a ransom. They confirmed reports that $50 million had been demanded.

Baghsarian’s family, who described the harrowing ordeal of the kidnapping as a “nightmare”, expressed relief the alleged offenders had been caught.

They have asked for privacy, as they come to grips with the death of their devoted father, brother, uncle and grandfather “who would never hurt a fly”.

Shirtless Daniel Stevens is arrested on Wednesday. Photo: NSW Police

Vision of the arrests shows Stevens, shirtless and in knee-length Adidas shorts, being marched out to a police vehicle by two armed officers as a number of detectives look on.

Another image shows Andrews slumped in the back of a police car wearing designer clothing, with his head pointed down and his stomach protruding from his shirt.

The recklessness the kidnappers showed in both taking the wrong man and targeting a family member has angered authorities.

Police repeatedly told the kidnappers they had the wrong person and publicly urged them to release Baghsarian, who relied on daily medication.

Several of those public appeals occurred after the night of February 14, when police believe Baghsarian’s attackers disposed of his body at Pitt Town, a semi-rural area on Sydney’s northern outskirts.

Detectives found the remains near a local golf club after passersby reported seeing a vehicle linked to the investigation in the area a day after Baghsarian disappeared.

NSW Premier Chris Minns described the grandfather’s ordeal as “a shocking violent crime” and said the criminals responsible would be met with a swift response.

“[They] will not get away with it,” he said.

-with AAP