Successful modifications of band gaps of bulk alloy semiconductors (i.e. in binary, ternary and quaternary compounds) for electronic and optoelectronic device applications encouraged the researchers to explore similar strategies in 2D-materials involving graphene and graphene like transition metal chalcogenides and other layered materials. Being atomically thin layers, there are numerous other possibilities to explore in these 2D-materials involving lateral, vertical heterostructure formations besides substitution, and doping of other atomic species to fix their band gaps somewhere between zero of the graphene and the wide band gap, for example, of h-BN (i.e. 6eV band gap) in hybrid type h-BNC lattice. The recent developments taking place in this important area of research in band gap engineering of 2D-hybrid materials is briefly discussed in this review.