The Second Far East Regional Scout Conference was hosted by the University of Rangoon in 1960, with the First Far East Professional Scouters Training Conference held at Inyale Camp on Inya Lake as an ancillary event.

On 16 March 1988, following the killing of two students during the pro-democracy demonstrations, students marching on Prome Road (now Pyay Road) were confronted near Inya Lake by the Lon Htein security force riot police and many beaten to death or drowned.

On 4 May 2009, the American citizen John William Yettaw trespassed upon the shoreline residence of Burmese political prisoner Aung San Suu Kyi, at the time under house arrest.

Except for a public park on the southwestern bank by Yangon University, much of the shoreline is some of the most expensive private property in the country.

Lakefront properties include residences of Aung San Suu Kyi, the late strongman Ne Win, and the United States ambassador.