Pradeep Nain (22), a final year student of BTech in mechanical engineering in the university was arrested on the charge of murdering Gitika Mehta, a final year BTech student of computer science, last evening, police said.
Nain was produced in a local court on Tuesday and remanded to police custody for two days.
The incident led to protests last night, with the students of the university blocking the Hisar-Delhi national highway for some time.
The university administration declared holiday on the campus as a precautionary measure after students protested against the administration on the campus, alleging lack of security arrangements in the premises.
The students demanded dismissal of the vice-chancellor and the registrar of the university.
The situation in the university was stated to be tense, but under control, police said.
The victim, who was living in a hostel on campus, was hacked to death allegedly by Nain when she was near the shopping complex of the university last evening, police said.
Some students and security staff who were present there caught the assailant and handed him over to the police.
Police investigations revealed that both were close friends, but lately the girl was maintaining a distance from him and out of frustration, Nain committed the crime.