The body of Geet Brar was found last night.
Brar, who hailed from Moga, was living in a rented accommodation in Chandigarh.
She left her residence with an unidentified man on Tuesday, police said.
Police said three shots were fired at her from a close range, probably with a revolver, and did not rule out contract killing.
Police have questioned two of her women friends.
The social media account of the deceased shows her applying makeup to top Punjabi film stars and models.