In the past decade, molecular magnetism has emerged as an important means to understand the fundamental aspects of magnetic interactions and magneto-structural correlations. Molecular magnets have shown potential application in quantum computing , data storage and molecule-based spintronics devices. In this respect, single molecule magnets (SMMs) and single chain magnets (SCMs) have gained tremendous importance because the slow relaxation of magnetization depends heavily on the magnetic interactions along the chain (for SCMs), high-spin ground state (ST) and strong uniaxial magnetic anisotropy (D). However, the assembly of magnetic building blocks to form higher dimensional molecular systems can also be used to obtain classical magnets where high critical temperatures can be obtained.