It is fed by precipitation, glaciers and springs and is home to many species of fish, including the brown trout.

Authors like Walter Roper Lawrence and Francis Younghusband also mentioned Gangabal lake and its association with Hindu rites.

In 1519 around 10,000 Kashmiri Brahmans died possibly due to landslides and early snowstorms near Mahlish Meadow during their pilgrimage to Gangabal as they had gone to immerse the ashes of Kashmiri Hindus who were killed by Mir Shams-ud-Din Araqi on the day of Ashura.

In the past Kashmiri Hindus would immerse the ashes of the dead after cremation in the lake.

[14] The trek to the lake Gangabal takes place in an alpine environment, (cut crossing) with meadows, (cut from) and huts of Gujjars with their herds crossing through two passes over 4,000 m to get to the lake Gangabal.