I found this information written in a board in the palace with the title: The Paigahs and The Salar Jungs
The Paigahs: The Paigahs played an important role in the founding of Hyderabad, providing the State with it’s premier nobility and some of its finest leaders.
The daughters of the Nizams were given only to this house, of all nobility, creating a class of nobles unique in any feudal system. Tied by blood and marriage to the royals, they were above all the great nobles of the realm, beyond the jurisdiction of any court, answerable only to the sovereign.
The Paigah families promoted art and literature and built beautiful palaces including Falaknuma, Asmangarh and Basheer Bagh palace. Nawab Moin ud-Daula Bahadur donated a gold cup for cricket and the tournament is still conducted in his name.
Rashiduddin Khan Shams Ul Umara III was the co-regent of Mir Mehbub Ali Khan Nizam VI along with Sir Salar Jung I.
The Salar Jungs: The familiy of Salar Jungs traces its descent from Shaikh Ovais i-Quarani of Medina in Arabia. They were the next to the Paigahs in hierarchy and played a key role in the administration and social life of the State.
Salar Jung I, Mir Turab Ali Khan Bahadur, Prime minister of Hyderabad, served three Nizams, gaining international reputation for his bureaucratic efficiency and far reaching social reforms. His son, Mir Laik Ali Khan, a brilliant Statesman, succeeded him at the age of 21 and was Prime Minister from 1884-1887.
Salar Jung III was appointed Prime Minister at Chowmahalla Palace and held office for only two years before retiring from a brief public life to spend the rest of his life traveling around the world, purchasing extraordinary objects to add to the magnificent collection he and inherited from his grandfather.
Old table and chairs: