The roof of the second floor of Nampally Sarai, a heritage structure in the heart of the city, collapsed in the evening.
A few persons were present in the dilapidated building at the time of the accident. Police shifted two injured to the hospital.
Personnel of Greater Hyderabad Municipal ACorporation (GHMC) rushed to the scene and were removing the debris to find out if anyone was trapped under it.
Officials believe incessant rains during last few days had further weakened the Sarai or the guesthouse.
Located near Nampally Railway Station, Nampally Sarai was one of the few remaining heritage structures in this historic city and fell on bad times due to negligence by authorities.
Sixth Nizam, Mir Mahboob Ali Pasha, the then ruler of Hyderabad State, had built Nampally Sarai in 1919 in memory of the First World War treaty.
Then called Sullah Sarai and considered as the gateway of the old city, this two-storied building used to be abuzz with visitors to the city.
The balcony of the eastern portion of Sarai had collapsed in 1998 due to lack of maintenance.
A few years ago Hyderabad Metro Rail (HMR) took control of the Sarai from GHMC. HMR was planning to turn it into parking area. However, due to opposition from concerned citizens and heritage activists, it put its plans on hold.
( With inputs from IANS )