The 5th Nizam Afzalud Dawlah gifted land to the grain merchants for trade and commerce. The place was named Afzalgunj. A lot of markets mushroomed around Begum Bazaar like Moazzam Jahi Market, Siddi Amber Bazar, Usmangunj Market, Begum Bazar, Pool Bagh etc.
Afzal Gunj is one of the old suburbs in the Hyderabad
City. It is on the banks of the River Musi. Afzal Gunj is the hub of local
transportation due to the presence of Central Bus Station in the region. Later
Imbliban Bus Station was constructed. Now the MGBS (Mahatma Gandhi Bus Station)
is being run here, which as bagged award as the biggest Bus Station in the
Asia. The famous Osmania General Hospital, State Central Library are located
here. Andhra Pradesh High Court, and the famous Salarjung Museum is located
close to Afzalgunj (other part of Musi River).