It can be shown that $f(x,y) = (x-\frac 1 2)^2 + y^2 - \frac 1 4$.
Consider the curve defined by the equation $(x-\frac 1 2)^2 + y^2 - \frac{1}{4} = \lambda$ with $\lambda \geq -1/4.$ This is the equation of a circle with radius $\sqrt{\lambda + \frac 1 4}$.
If you draw this circle then all the points $(x,y)$ inside the circle will be such that $(x-\frac 1 2)^2 + y^2 < \frac 1 4 + \lambda$ i.e. the points $(x,y)$ such that $f(x,y)<\lambda.$
The constraints of your problem are $ x \geq 2$ and $x + y \geq 1$. The $(x,y)$ that satisfy these two conditions are exactly the points that are to the right of the line $x = 2$ and above the line $y = 1 - x$. Color this region in blue.
If there is a point $(x',y')$ that is both inside the circle and in the blue zone then $f(x,y) < \lambda$ therefore $f$ can take smaller value than $\lambda$ under the constraints.
You're looking for a circle which touches the blue area but is such that are no points inside the the circle that are in the blue area. This circle is the circle with radius $3/2$ (that touches the line $x = 2$.)
This means $f$ takes its minimal value under the constraints at $(x,y) = (2,0)$ and this minimal value is $2.$