The electronic structures of transition metal dichalcogenides (TMDs) has a strong dependency on the d‐band electrons of the central metal (M) atom. In particular, trigonal prismatic coordinated (2H) and octahedral coordinated (1T) phases with distinct crystal structure‐property relationships. Extraordinarily diverse electrical properties ranging from semiconducting, semimetallic to intrinsic metallic basically underlie from different Fermi level locations. Amid all TMDs, most specifically metallic VX2 possess plenty of interesting physical properties among them superconductivity, electrical conductivity, charge density wave, optical and magnetism etc. have offered intriguing applications in the fields of condensed matter physics, materials and device physics over the last few decades. Further modification of these materials by defect engineering, Li intercalation, electron beam/light irradiation, alloying and dimensional tuning can lead several tunable device applications. Due to their superior mechanical flexibility, controllable electrical properties, planar fabrication and high surface to volume ratio etc., 2D metallic TMDs materials emerge as active material for sensing, energy storage, conversion and field emission applications. This review article aims to provide the insights on the recent developments of different emerging properties, growth approaches and applications of 2D metallic VX2 (X = S, Se and Te) and its heterojunctions.