Krishan Kumar (14) and Gurpreet (17) drowned in a water treatment plant in Cantt area while taking bath with friends, Station House Officer (SHO) of Padao Police Station Ram Niwas said.
A fire brigade team and villagers conducted the search operation, he added.
Both the boys were rushed to military hospital where Krishan was declared brought dead while Gurpreet died during treatment, the SHO said, adding, police has not yet registered any case but was looking into the incident which had taken place in the army area.
The villagers expressed concern over lack of security arrangements at the plant, he said.