After his death in 1816, the government took control of the estate in 1826 and leased it to Framaji Kavasji, then the vice-president of the Agricultural and Horticultural Society of Western India[4] after whom the lake was named when it was built in 1891.

A stream tributary of the Mithi river, which served the Powai village's water needs, was dammed in 1891, during the British period.

Five lakhs of rupees more were spent on the scheme in 1919 in an attempt to restore the supply at least for the suburbs but this, too, was given up with the development of the Tansa works.

In 1955, under the Societies Registration Act 1860, it was registered as the Maharashtra State Angling Association (MSAA) and the lake is now under their control.

Realising the gravity of the environmental pollution, the MSAA has revised its constitution "to actively care for, clean, develop, maintain, and beautify the Environment at Powai Lake."

MSAA is now involved with The lake is about 40 kilometres (25 mi) from Mumbai's downtown by road and is approached via Kurla or through Santa Cruz and Andheri.

[11] Some of the tasks proposed to be undertaken with the funds donated by IIT, Bombay included: The project was proposed to be professionally managed with a project manager working under directives of IIT Bombay with an "Oversight Committee" to monitor objectives set for the restoration work.

The restoration/revival programme, fully funded by the NLCP, was launched in April 2002, and implemented by Bombay Municipal Corporation (BMC) now called Brihanmumbai Municipal Corporation (BMC), the Government of Maharashtra and as a result the status of the lake has undergone a major shift from the hypertrophic condition to mesotrophic condition by adopting a novel technique of aeration and bioremediation.

[13] White-throated kingfisher, small blue kingfisher, Indian spot-billed duck, spotted dove, a few purple swamphens, purple-rumped sunbirds, bronze-winged and pheasant-tailed jacanas, ashy prinias, brahminy kite, red-vented, red-whiskered and white-browed bulbuls, cormorants, lesser whistling ducks, grey, purple and Indian pond herons, little, intermediate egret and great egrets, peregrine falcon, greater coucal, rose-ringed and Alexandrine parakeets, Eurasian marsh harrier (possibly winter visitor), woolly-necked stork (winter visitor) hoopoe and whiskered terns.