Nowadays, the material science research is focused on the invention of new materials with the enhanced properties and novel synthesis techniques to cope up with the increased technological demand in many fields. Nanocrystalline materials are the center of the attention due to their tremendous applications and interesting properties. The properties of nanomaterials are remarkably different than that of their bulk counterpart.chemical precipitation, one of the important wet chemical methods, is found to be unique and highly versatile. It is an easy and fast process which yields high-purity, homogenous, crystalline metal oxide nanoparticles in a short time and with less energy, relative ease of preparation and low cost. Its simple process, cost-effectiveness and crystallization as well as the control of the morphologies, sizes and phase transformation, have attracted the researchers to a great extent.