The lake is gradually being destroyed and depleted reportedly due to encroachment from various builders, private residential projects and construction of roads.

[11] The GHAC (Great Hyderabad Adventure Club) has been carrying out clean sweep days on the lake shore in 2013[12] and 2014.

[13] With the Khajaguda Hills (Fakhruddin Gutta) to the South of the lake, the site is a popular spot for outdoor activities, such as hiking and bouldering.

[20][21][22] The tomb of Saint Hazrat Baba Fakhruddin Aulia — spiritual mentor of Ala-ud-Din Bahman Shah (founder of the Bahmani Kingdom) who was buried here in 1353 AD; an over 800-year-old Annatha Padmanabha Swamy Temple and a cave where the revered saint, Meher Baba had meditated are situated on Khajaguda Hills (Fakhruddin Gutta).

[26][27] In October 2023, Hyderabad Metropolitan Development Authority (HMDA) started work to fence the 2.5 billion-year-old Khajaguda rock formations and limiting access to motorists, visitors.