The place is a holy destination by the locals. There is the three-storied temple on the banks of the lake, in a pagoda-like architecture dedicated to Sage Parashar. Though the place is a tourist destination year-around and locals visit it also. One of Lake Parashar's main attractions for the tourist is to visit it during winter to see the lake wholly covered under thick snow.
Irrespective of which time of the year you visit, the place has a fantastic view to offer. This saucer-shaped valley with the pristine blue lake surrounded by thick forest and snow-capped peaks is a view to reckon with. If you are adventurous enough and want to stay under the starry sky, you can camp at the place too.
But the place is not only limited to this beautiful lake, but there are also quite a few other attractions to visit when you are going to Parashar lake. There are quite a few temples around the place, like Lord Ramchandra Temple, Bijli Mahadev Temple, and Kulant Pith, to name a few.