The paper presents semi-analytical mathematical model to estimate unsteady groundwater recharge resulting from variable depth of water in a large water body, influenced by time variant inflows and outflows. The model has been derived by integrating Hantush’s (1967) analytical expression for water table rise due to recharge from a rectangular spreading basin into the water balance equation of the water body. The model has been applied to a test study site in Raipur (India) for assessing viability of Managed Aquifer Recharge (MAR) from a lake located on an area dominated by the massive limestone formation. The components of the water balance equation have been carried out by the comprehensive analysis of the hydrological and hydrogeological aspects of the lake. The hydrological components include