Organometal halides compound shortly named as perovskite represent an emerging active layer materials for photovoltaic technology. In recent years perovskite shows capability of developing high performance photovoltaic devices with higher efficiency at a low cost. This review article discuss the current status of methylammonium metal halide (perovskite) based photovoltaic devices and provide a comprehensive review of ABX3 device structures, fabrication methods,synthetization, film properties, and photovoltaic performance. The flexibility, simplicity and low cast processing of perovskite solar cell fabrication methods allow using various types of device architectures. The article also focuses on the journey of perovskite solar cell. In 2009 first perovskite solar cell was reported and it shows power conversion efficiency (PCE) of around 3–4%.In 2017 the PCE was reported around 22.1%, now a day (in 2019) 28% power conversion efficiency is reported by Oxford PV’s which is tandem solar cell based on perovskite-silicon. In this article the issue related to efficiency enhancement, stability and degradation mechanism are presented.