Conventional methods for application development are rigid, complex, costly and ineffective in implementing new and changing technologies. The embodiments herein provide a model driven system and method for development of micro service applications. A set of user interface components and one or more domain components for a plurality of micro services designs of a plurality of applications pertaining to one or more technologies are modeled and validated. Further, a plurality of codes are generated according to the one or more modeled domain components of the plurality of micro services designs of the plurality of applications satisfying one or more requirements. The plurality of generated codes are further customized and validated to ensure design and code consistency. The plurality of customized codes are further containerized to provide a plurality of containerized applications which are deployed into a target deployment environment for execution using a plurality of configuration files.