Metal organic frameworks (MOFs) are one of those compounds which have drawn attention in various applications due to their several interesting properties like tunable shape, size, pore size, easy functionalization, high surface area, pore volume, etc. Metal organic frameworks due to their uniform structures, tunable porosity, wide variety and stability on various topology, geometry, dimension and chemical functions of the molecular network give a remarkable structural diversity in comparison to other porous materials. This enables scientists to handle numerous framework structures, porosity and functionality effectively. The unique structural architecture and tunable properties of MOF’s makes them an interesting hybrid material consisting of organic and inorganic materials. MOF can be randomly constructed like Lego bricks and superior in terms of versatility in comparisson to other porous materials. A number of MOFs containing a wide variety of metal e.g. zinc, copper, iron, aluminium, magnesium, chromium, zirconium, gadolinium, manganese are gaining rapid growth in commercial markets for gas storage, adsorption, separation and catalytic applications. This concise review emphasizes various synthetic methods e.g. solvothermal process, hydrothermal synthesis, electrochemical synthesis, microwave synthesis, sonochemical synthesis, mechanochemical synthesis, of metal organic framework developed in the last few decades. It also addresses various applications of metal organic framework e.g. hydrogen storage, gas adsorption, drug delivery systems and bioimaging agents, biocatalysts, biosensors, electrochemical sensors, etc. It also comments on various challenges and futuristic applications of metal organic frameworks in various field e.g. liquid wate management, gaseous waste management, sunlight assisted catalysis, water purification, building materials, electronic devices, battery technologies, targeted drug delivery, solar cells, etc. of science and technology in coming decades.