This research article discusses the types of carbon nanotubes and some related properties, synthesis methods and applications. In this research article, the specificities of SWCNTs as well as MWCNTs are described along with the extraordinary properties of carbon nanotubes such as electrical conductance, resistivity, and thermal conductivity in the direction of axis of the tube. Overview of certain specific methods for the growth of carbon nanotubes has also been reviewed. Previously available methods for the formation of CNTs are also described which include: arc discharge, laser ablation, chemical vapor deposition (CVD) and plasma enhanced chemical vapor deposition (PECVD). Carbon nanotubes have a number of applications in the field of electronics, biomedicine, and chemical sensors etc. Some of the applications are also briefly described.