Microstructures play a central role in determining the mechanical and functional properties of a material. An important aspect in computational materials science is to reliably predict the key microstructural features, and to utilise them in bridging the processing and properties of new materials. The existing microstructure characterization and reconstruction (MCR) techniques have inherent limitations in terms of the lack of design variables and information loss due to various assumptions. In previous studies, Generative Adversarial Network (GAN) models were trained using more than 10,000 image datasets, however without performance analysis using quantitative morphometric and statistical measures. In this perspective, the present work demonstrates the capability of GAN architectures to learn the mapping between random latent vectors and synthetic microstructural images, even in a limited data regime (1225 images). Three different architectures Deep Convolutional GAN (DCGAN) ,Wasserstein GAN- Gradient Penalty (WGAN-GP), StyleGAN2- Adaptive Discriminator Augmentation (ADA) were explored, together with comprehensive statistical and morphological analysis, while training on a publicly accessible Ti-6Al-4V (Ti64) alloy microstructure dataset. The StyleGAN2-ADA outperforms the other two GAN models to generate realistic synthetic microstructures of higher resolution, with good qualitative similarity to original images. The analysis of performance metrics, like Frechet Inception Distance (FID), Kernel Inception Distance (KID), and Inception Score (IS) scores, reveal that the generated image distribution is statistically close to the original distribution of microstructural features. The morphometric parameters, including α/β phase fractions, local α/β boundary thickness, and orientation of lamellar morphology, were also used to compare original and synthetic images quantitatively. More importantly, two-point correlation and t-stochastic neighbour embedding (t-SNE) illustrate the statistical similarity between the original and synthetic microstructures. Taken together, the present work establishes the capability of generative models like GAN in generating representative microstructures of Titanium alloy in a statistically reliable manner. Such an approach, when adopted, will accelerate the field of microstructure fingerprinting.