Nizam College officially does not provide any accommodation for the students on the OU campus. But from the second year onwards, hostel facilities are available for only boys nearby the campus. For girls, there is no such facility available as of now. 

Officially Osmania University doesn't allow students of other colleges and universities to stay inside their campus hostels. But you can stay at their hostels if you know a student staying in an OU hostel. This is the only way possible to stay in an OU hostel if you are from a different college. But if you get caught staying in OU hostel illegally, then you will be punished by the OU hostel officials. 

So it will be better to stay in any department hostels like SC, ST, BC hostel and then after a year, you will be able to stay in a hostel of Nizam College which will be around 500 meters away from the campus.