Rajghat reservoir and Lakha-banzara pond is one of the major water bodies in Sagar city (M.P.). Physico-chemical statuses of two water bodies were studied in the year 2007-10. Both the water bodies, reservoir (source-Bebas River) and pond (still water) are affected by various anthropogenic activities. In the present study, physico-chemical characteristics of two water bodies have been compared. Water samples have been analyzed of pond/reservoir sample collection places during 2 years for their 15 physico - chemical parameters viz. Water Temperature, Colour, Conductivity, Turbidity, Total solids, Total dissolved solids, pH, Alkalinity, Chlorides, Total hardness, Dissolved oxygen, Biological oxygen demand, Chemical oxygen demand, Iron and Fluoride were analysed during different seasons. The correlation and multiple regression analysis applied to the datasets indicated their interrelationships, for evaluating water quality during the pre monsoon, monsoon, and post monsoon seasons. On the basis of analysed parameters, the results indicated the, satisfactory water quality of the Rajghat reservoir water and Lakha-banzara ponds were found to be polluted condition.