Malakpet is one of the old areas of Hyderabad, India. Named after Malik Yakoob, a servant of Abdulah Qutub Shah Golconda King where he resided had a market, hence the name Malakpet. This suburb is further divided into two parts, Old Malakpet and New Malakpet. The Palmetum was established here in 2002 by Greater Hyderabad Municipal Corporation.
The state-owned TSRTC runs the city bus service, connecting to all the major centres of the city. All the buses running from Dilsukhnagar and Midhani bus depots pass through Malakpet. Malakpet has a MMTS train station, which is used for commuting.