Police said that B Haneesha Chowdary hung herself while she was on a video call with her friend Dakshit Patel.
Patel, who saw Chowdary hanging herself, rushed to the hostel, broke open the door and managed to take her to a nearby hospital, police informed.
Hospital authorities declared her dead on arrival, they added.
"We don't have any confirmation that she committed suicide while the video call was on. However, she had spoken with her friend on video call before resorting to the extreme step. Her friend told us that the victim had said that she would hang herself. He also told us that he saw her hanging," an official attached to Petbasheerabad Police Station said.
"A minor argument broke out between them after which she seems to have told him that she was going to end her life," the official said.
Police said that the victim's parents have filed a complaint and further investigations were underway.