Polycrystalline BaTiO3 doped with Fe and Mn (Ba1−xFexTi1−yMnyO3) is synthesized using the solid state reaction method. Structural, thermal, electrical and magnetic properties are discussed in the light of phase transitions. Structural studies establish the enhancement of lattice strain and disorderliness even at room temperature upon doping. The suppression of 308 cm−1 mode along with sustenance of Raman bands well above transition temperature is a consequence of the lattice shrinkage associated with increased micro-strain. Subsequently a decrement in ferroelectric to paraelectric phase transition temperature and associated enthalpy changes are also observed for Fe incorporated BaTiO3. The ferroelectric ordering is confirmed using P-E loop measurements. The magnetic studies reveal the prominent antiferromagnetic ordering in the sample. Improved magnetization results in the case of simultaneously substituted compounds over singly doped BaTiO3 due to the concurrent interaction between two magnetic A and B sublattices which is otherwise non magnetic. The present result is the first of its kind to report a Fe–Mn codoped BaTiO3 providing an ambient ferromagnetic and ferroelectric phase without losing the essence of either property. The cogent multiferroic property is need of the hour for enhancing functionalities for voltage driven non volatile multistate memory storage.