The importance of photon pair generation can never be overemphasized. It has formed the basis of most fundamental quantum optical experiments like Bell-experiments, quantum teleportation and entanglement swapping. However for considerable number of years Quantum Mechanics in general has remained largely theoretical and within the four corners of laboratories. Quantum Key Distribution is one of the first quantum applications to break this barrier. It provides us with unconditionally secured communication by providing us with efficient alternative to classical cryptography. This study forms part of the effort in realizing efficient way of generating photon pairs through the Spontaneous Parametric Down-Conversion process using a nonlinear crystal cut for type-I phase matching. After generating the photon pairs, the paper examined how they can be detected efficiently. We measured the rate of single photon generation (up to 200 kHz) as well as the rate at which they are detected in coincidence (150 coincidences per second). We further investigated a quantum interference effect (the Hong-Ou-Mandel effect) which classical wave theory has failed to describe. This effect has numerous applications in scalable quantum networks and in linear quantum computing. Finally, a remarkable conversion efficiency of 2.2