For Tensorflow version 2.0 and 2.1 use the following snippet:
import tensorflow as tf
gpu_devices = tf.config.experimental.list_physical_devices('GPU')
tf.config.experimental.set_memory_growth(gpu_devices[0], True)
For prior versions , following snippet used to work for me:
import tensorflow as tf
tf_config=tf.ConfigProto()
tf_config.gpu_options.allow_growth=True
sess = tf.Session(config=tf_config)