Perovskite-type ABO3 oxides have attracted immense attention in recent technologies e.g., gas sensors, solar cells, fuel cells, oxygen-permeable membranes, etc. An attempt has been made here to synthesize (Ba0.94Sr0.06)(Fe0.80Al0.20-xMgx)O3-ẟ (x = 0–0.20) oxides using sol-gel method and characterized with regards to phase, Raman and magnetic properties. X-ray diffraction-cum-Rietveld refinement shows the structural transformation from cubic (Pm3m) to hexagonal (P63/mmc) via cubic (Pm3m) + rhombohedral (R3c) and increase of cubic lattice parameter ac = 4.0369–4.1296 Å with magnesium. FT-IR spectra exhibit different vibrational bands at 548, 555, 638, 667, and 692 cm−1, representing the metal-oxygen (M-O-M) bond vibrations (M - Fe, Mg, Al), deformation of MO6 octahedral, and internal changes in bond lengths. No Raman band was appeared for cubic phase with x=0–0.10. Bands between ∼ 250–450 cm−1 assign the tilting, rotation, and asymmetric bending vibrations of Fe – O, Mg – O and Al – O bonds and asymmetric bending mode of (Fe/Mg/Al)O6 octahedra. Oxygen bending vibration, anti-stretching mode and presence of oxygen vacancies lie in the bands of range ∼498–656 cm−1. Maximum coercivity (Hc ∼ 1081 Oe) and remanent magnetization (Mr ∼ 0.033 emu/g) have been observed for x = 0 and found similar variation with ‘x’. The saturation magnetization (Ms) and anisotropic constant (K1) values lie as Ms = ∼ 0.678 – 0.754 emu/g and K1 = ∼ 1.38× 104 – 1.53× 104 erg/cm3, respectively with magnesium (x). Presence of anion vacancies and high coercivity make the materials suitable for industrial applications.