The girl's family members have alleged that she was killed by someone.
The deceased, a class XII student of a private college here, went missing on September 9.
Police are not ruling out the possibility of sexual assault.
According to police, the body was spotted by some locals who alerted them.
"The body is in a decomposed state. There are also minor injury marks on the girl's neck, legs, and face. The body has been shifted for postmortem. Doctors are yet to give their opinion (on the cause of the death)," a Cyberabad Police Commissionerate official said.
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"She left the house at around 5 p.M on September 9 saying she was going to meet her friends. At 6.30 p.M, we called up on her mobile phone but couldn't reach her. We then inquired with her friends, but they said she had not met them, following which we lodged a complaint with the Miyapur Police," they said, adding that police informed them about the body this morning.
"We suspect that someone planned and killed her," they told reporters.
When contacted, Sangareddy superintendent of police Chandrashekhar Reddy, who visited the spot which falls under the limits of the Sangareddy District Police, told PTI that a case of murder was registered.
When asked about the mystery surrounding the girl's death, the officer said either somebody killed the girl at another spot and dumped her body here or she might have killed herself. "We are probing both the angles," he added.
The Miyapur Police have also obtained CCTV footages from the nearby locations when the girl had left her house and are verifying them.
A doctor who conducted the autopsy said they have collected the viscera, and that it will take at least two days for a detailed report.