The Hada Chauhan rulers of princely Bundi State Rao Raja Bhoj (1585–1608) had it deepened and the walls strengthened.

Maha Rao Raja Ajit Singh (1770–73) built 'Ram Bagh' on its shore and a huge Shiva temple and a Chhatri inside the lake.

[4] in 2023, the district administration of Bundi has approved an amount of more than Rs 5 crore for the restoration work of Nawal Sagar Lake.

Every year, Bundi Utsav, a cultural program held by the tourism department of Rajasthan is organised at the lake shore.

Many cultural activities take place under this program including Deep Dan ceremony in which clay lamps are floated in lake by local residents.