The body was identified as that of 19-year old Dinesh Kumar, doing his second year B.Com in a private college.
Quoting some residents, police said that one student has reportedly attempted to commit suicide last evening by jumping into the lake.
However, he was rescued and sent back home in Selvapuram in the city, they said.
Police have received a suicide note purportedly written by the student stating that he was not interested in studies and he was going to a dream world, which he was planning for the last three years, police said.