While one bag contained the severed head and hands, another one was stuffed with the torso, Assistant Commissioner of Police (Madhapur Division) N Shyam Prasad Rao said.
The body is that of a woman aged between 25 and 30 years, and her identity is yet to be ascertained, he said.
"Some locals alerted the police after finding the bloodstained gunny bags lying by the road near the Botanical garden. After opening the bags, chopped body parts were found," Mr Rao said.
A case of murder has been registered and the body parts have been sent for forensic examination, the police said, adding a probe is underway.
Yesterday, a severed head of a man was found near a religious place in Nalgonda town of Telangana.