Transparent glass-ceramics have been of industrial interest because of their multifarious applications. These are becoming increasingly important because of the flexibility that is associated with this route of fabricating intricate sizes and shapes as per the requirement. A number of glass-ceramics, based on well known ferroelectric crystalline phases (LiNbO3, LaBGeO5, SrBi2Nb2O9, Bi2WO6 etc.) were fabricated and their polar and electro-optic properties were reported. Keeping the potential applications of transparent glass-nano/microcrystal composites in view, attempts were made to fabricate SrBi2B2O7 and CaBi2B2O7 glasses and glass-nano/microcrystal composites. An attempt has been made to employ strontium bismuth borate SrBi2B2O7 (SBBO) as a reactive host glass matrix for growing the nanocrystals of ferroelectric oxides belonging to the Aurivillius family. The in situ nucleation and growth of SrBi2Nb2O9 (SBN) nanocrystals in a reactive SrBi2B2O7-Nb2O5 system and its influence on various physical (dielectric, pyroelectric and optical) properties were investigated. The strategy has been to visualize the formation of nanocrystalline SrBi2Nb2O9 as a result of the simple chemical reaction between glassy SrBi2B2O7 and Nb2O5. Indeed at lower concentrations of Nb2O5 transparent glasses were obtained which upon heat-treatment at appropriate temperatures yielded nanocrystalline SrBi2Nb2O9 phase in a transparent glass matrix. Textured SrBi2Nb2O9 ceramics were obtained by quenching the melts of SrBi2B2O7-Nb2O5 in equimolar ratio and their physical properties were studied. A strong anisotropy in physical properties (which are akin to single crystals) were demonstrated in the textured ceramics.