Controlled growth of nanostructures plays a vital role in tuning the physical and chemical properties of functional materials for advanced energy and memory storage devices. Herein, we synthesized hierarchical micro-sized flowers, built by the self-assembly of highly crystalline, two-dimensional nanoplates of Co- and Ni-doped BiFeO
3
, using a simple ethylene glycol-mediated solvothermal method. Pure BiFeO
3
attained scattered one-dimensional nanorods-type morphology having diameter nearly 60 nm. Co-doping of Co and Ni at Fe-site in BiFeO
3
does not destabilize the morphology; rather it generates three-dimensional floral patterns of self-assembled nanoplates. Unsaturated polarization loops obtained for BiFeO
3
confirmed the leakage behaviour of these rhombohedrally distorted cubic perovskites. These loops were then used to determine the energy density of the BiFeO
3
perovskites. Enhanced ferromagnetic behaviour with high coercivity and remanence was observed for these nanoplates. A detailed discussion about the origin of ferromagnetic behaviour based on Goodenough–Kanamori's rule is also a part of this paper. Impedance spectroscopy revealed a true Warburg capacitive behaviour of the synthesized nanoplates. High magneto-electric (ME) coefficient of 27 mV cm
−1
Oe
−1
at a bias field of −0.2 Oe was observed which confirmed the existence of ME coupling in these nanoplates.