The Goshamahal Baradari is probably the only well preserved palace built by the Qutb Shahi rulers, as almost all their palaces were destroyed during the long seige of the kingdom by Aurangazeb. It was built by the last Qutb Shahi ruler, Sultan Abul Hassan Tana Shah, in 1684. Apparently, during Aurangazeb's conquest of the Deccan, he installed his son Shah Alam in this palace, which served as the Mughal headquarters in the south.
Later, in the early 20th century, the Nizam of Hyderabad handed this palace over to the Freemasons of Hyderabad and Secunderabad and it has been in their care ever since.
The name Goshamahal translates to "Secluded Palace for Ladies". Notice how the windows with jali work and the absence of balconies of any sort provide seclusion and privacy. A baradari is usually a palace with 12 doors. Some images of the palace, that is undergoing extensive restoration: