Explorations of stable lead-free perovskites have currently achieved substantial interest to overcome the instability and avoid toxicity related issue faced with the lead-based perovskites. In this study, we have comprehensively studied the stability, nature and origin of electronic, transport and optical properties of inorganic halide double perovskites, which could provide a better understanding of their possible potential applications. The density functional theory is used to investigate the different physical properties of these materials. The stability of these cubic materials is validated by optimizing the structure, tolerance factor, mechanical stability test. The materials are small band gap semiconductors with outshining optoelectronic performance. Due to high optical absorption, high conductivity and low reflectivity they have great potential to be used for optoelectronic application purpose. Because of small band gap we have also investigated the variation of various transport parameters with chemical potential. The semiconducting nature of materials results in ZT close to unity predicting its excellent application in thermoelectric technology.