I found this information written in a board in the palace with the title: Hyderabad: A historical background
Founded in the last decade of the 16th century (1591), the city of Hyderabad was till 1948 successfully was the capital of Qutb Shahi Sultans of Golkonda, of a Mughal province after Aurangzeb’s conquest of the Deccan and of the Nizams of the State of Hyderabad.
The early history of Hyderabad is inextricably entwined with the history of the Qutb Shahi dynasty which ruled for 171 years. During this period, Golkonda emerged as a leading market in the world of diamonds, arms, and printed fabrics.
By the mid 17th century, the politics of the Deccan was ready for yet another tectonic shift. Mughal Prince Aurangzeb, after the death of Shah Jahan in 1666, consolidated his power in Delhi as emperor and focused his attention on the South. He spent most of his imperial reign in military camps in Deccan, in almost desperate campaign to exapnd the empire beyond the greatest extent it had till then reached. The biggest prize in his eyes was the rich city of Hyderabad protected by the formidable fort of Golkonda. Aurangzeb took control of Golkonda in 1687 after defeating Sultan Abul Hassan Tana Shah. The Mughal occupation lasted for only 20 years. After Aurangzeb’s death in 1707, the Mughal appointed governors of Hyderabad gained more autonomy from Delhi.
In 1724, Asaf Jah I, who was granted the title Nizam-u-Mulk (Governor of the realm) by the Mughal emperor, gained control over Hyderabad. Thus began the Asaf Jahi dynasty, that would rule Hyderabad until a year after India gained independence.
Arms and Armor collection of the Asaf Jahi dynasty (1724-1949 CE):