We have opted for modifying/mixing the conventional BFO multiferroic by Mg-based structure MgTiO3, resulting in the given structural form as (BiFeO3)0.6 (MgTiO3)0.4. The structural distortions from the spin cycloid rhombohedral structure for pure BFO to the orthorhombic arrangement were verified, both from the POWD and Rietveld analysis of the XR-Diffraction database, specifically being transformed to the space group: Pbnm. High εr values, specifically at low-frequency regimes unclog the ceramic's high electric storage ability, which might be as the layered capacitor. Observation of saturated low tangent dielectric loss (tanδ) at higher frequency suggests the compound's applicability for microwave-related applications. It was perceived from the temperature-dependent CIS study that the sharpness of the relaxation mechanism enhances following the contraction in ImZ curves. The fall in the maxima height of the ImZ curves with temperature rise indicates the reduction in the magnitude of (jωC)−1 . The rising peak heights of the M″ curves with rising temperature evince the dominance of long-range thermal conductivities in the solid complex. The optical band gap was found to be tapered relative to the host (BiFeO3), making it a potential candidate for optoelectronics applicability. The Cole-Cole plots suggest the sample's semiconducting feature, together with some non-Debye characteristics induced by electrode-surface irregularities. Weak leakage conduction was observed from the J-E curve, together with a non-linear (non-ohmic) response. The induction of weak ferromagnetism and enhanced saturation trend in the M − H curve suggests partial suppression in the spin cycloid AFM arrangements, brought in by a factor such as bond angle depression between the adjacent ferrite ions.