The search for magnetic refrigeration prototypes materials that can operate at room temperature got triggered with the discovery of the giant magnetocaloric effect because it opened up the possibility to use green energy for cooling systems. The magnetocaloric effect has been investigated in several heterostructure systems. The heterostructure with fascinating interface functionalities provides new avenues to test the scope of these strain modulated effects. The strain and interface effects of a series of heterostructures consisting of ferromagnetic transition metal oxides, La_0.7 Sr_0.3 MnO_3 (LSMO) and SrRuO_3 (SRO) has been studied. The rhombohedral La_0.7 Sr_0.3 MnO_3 exhibits an insulator-to-metal-like transition in electronic transport and ferromagnetic ordering with a Curie temperature of 360 K in its bulk form. While the orthorhombic SrRuO_3 exhibits metal-like electronic transport and ferromagnetic ordering with a Curie temperature of 150 K. The pseudomorphic growth is realized in the (111) oriented SRO-LSMO superlattices, in contrast to the superlattice with reverse stacking order as LSMO-SRO, which relaxes strain. The strained superlattices show an enhanced magnetocaloric effect compared to the relaxed superlattices. The crystal symmetry of the LSMO in these superlattices is partially or fully reduced from the rhombohedral-to-orthorhombic structure, as evidenced by the Raman scattering. The observed electronic and magnetic properties in these (111) oriented LSMO-SRO superlattices are explained by strain and the associated structural reconstruction (Nanoscale doi: 10.1039/D0NR00620C). Further, by making interfaces of LSMO and SRO in the form of artificial (001) superlattices, we have achieved positive magnetoresistance (MR) and weak antilocalization (WAL), although the individual component shows negative MR and weak localization (WL) (J. Appl. Phys. doi: 10.1063/5.0014909). Finally, the superstructures of LSMO-SRO are designed to achieve enhanced interfacial strength by reducing the bilayer thickness. The (001) oriented LSMO-SRO superlattices with ultrathin bilayer thickness stabilize orthorhombic crystal structure and exhibit antiferromagnetic exchange coupling even though the constituents are ferromagnetic. These host of observed interesting physical properties, which are the intriguing phenomena in modern magnetic refrigeration or spintronic based devices, and their tunability could pave the way for new technology.