A method for application environment migration, the method comprising: assessing, by a processor of an application server, a source application code of a source application environment; ascertaining, by the processor, a quantum change for migrating the source application code to a target application code, wherein the quantum change is a summation of all changes required in the application migration; the method further comprises forecasting, by the processor, an assessment statistic, wherein the assessment statistic provides at least one functional readiness and a timeline to complete the migration of the source application code, wherein the ascertaining includes performing an automated assessment of the source application static code and identifying the inhibitors or blockers which will fail a containerized cloud migration and readiness parameters, wherein the assessment statistic is generated based on the inhibitors or blockers which will fail a containerized cloud migration and readiness parameters; scanning, by the processor, the source application code for identifying a business logic; generating, by the processor, a re-factored code for the source application code, wherein the re-factored code is generated by breaking the source application code into macro-services (426a,..., 426n) and repackaging the macro-services (426a,..., 426n) in accordance with the target application code while retaining the business logic; updating, by the processor, components of the source application environment as per the forecasted assessment statistic and the re-factored code; migrating, by the processor, the source application environment to the target application environment, wherein the migration re-platforms the updated components and the re-factored code of the source application environment to the target application environment. assessing, by a processor of an application server, a source application code of a source application environment; ascertaining, by the processor, a quantum change for migrating the source application code to a target application code, wherein the quantum change is a summation of all changes required in the application migration; the method further comprises forecasting, by the processor, an assessment statistic, wherein the assessment statistic provides at least one functional readiness and a timeline to complete the migration of the source application code, wherein the ascertaining includes performing an automated assessment of the source application static code and identifying the inhibitors or blockers which will fail a containerized cloud migration and readiness parameters, wherein the assessment statistic is generated based on the inhibitors or blockers which will fail a containerized cloud migration and readiness parameters; scanning, by the processor, the source application code for identifying a business logic; generating, by the processor, a re-factored code for the source application code, wherein the re-factored code is generated by breaking the source application code into macro-services (426a,..., 426n) and repackaging the macro-services (426a,..., 426n) in accordance with the target application code while retaining the business logic; updating, by the processor, components of the source application environment as per the forecasted assessment statistic and the re-factored code; migrating, by the processor, the source application environment to the target application environment, wherein the migration re-platforms the updated components and the re-factored code of the source application environment to the target application environment.