The double-murder became one of the most closely-watched whodunits in recent memory in India, with dramatic turns by police and prosecutors seizing national headlines and launching debates over details of the case.
Prosecutors for the Central Bureau of Investigation had asked for the death penalty.
"Such crime comes under the rarest of rare cases," prosecutor Naresh Yadav said. "So they should be awarded maximum punishment."
The investigation determined both victims had been hit with a golf club and later had their throats slit.
Police offered several possible motives in prosecuting the parents, including an honor killing.
Several other suspects had been questioned by police. After the case stalled, the Talwars in 2011 demanded a fresh investigation.
The couple was also sentenced to an additional five years in prison for destruction of evidence, while Rajesh Talwar got another year for "furnishing false information to the police regarding the murder of his daughter" by the 45-year-old housekeeper.
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