Red brick is a basic building material used in the construction of buildings. In the ever-growing construction field, Civil Engineers are searching for new building materials based on economy, durability and efficiency. It should also be eco-friendly. This project aims to create low cost, eco-friendly, sustainable and durable system for the construction of load-bearing walls using the Interlocking Bricks (IB). It is a mortar-less masonry system and cement is also not used in brick manufacturing. The interlocking brick is made using waste materials (i.e. fly ash & GGBS) and hydraulic lime as binder. Mix proportions are varied based on the proportion of waste materials. Comparison of interlocking brick and conventional brick on the basis of compressive strength & water absorption of the brick unit. It was found that interlocking brick composed of 55% of fly ash, 25% of GGBS and 20% of lime had the best results in all the tests. The compressive strength was 30% higher than the conventional red bricks. The interlocking brick wall panel was tested by applying axial compressive load and software analysis is carried out using ANSYS 2021 R1 to compare it with the experimental results to find the degree of accuracy between theoretical and experimental models. Cost analysis is done to compare the rate of construction with conventional red brick masonry and was found that it was almost 40% cheaper.