Organic-inorganic hybrid metal halide perovskite solar cells (PSC) represent a novel class of optoelectronic semiconductors that have garnered significant attention from photovoltaic researchers globally. This is due to their continually improving efficiency, straightforward solution processing methods, use of lightweight and cost-effective materials, and other notable features. The advantageous properties of perovskite materials, such as superior charge transport, tunable band gap, and distinctive electronic structure, contribute to their appeal. Over the past 6 to 7 years, diverse device architectures and fabrication techniques for PSC have emerged, achieving an impressive power conversion efficiency (PCE) of 25.7%. This review article primarily focuses on recent advancements in PSC fabrication techniques, synthesis, device architecture, charge transport mechanisms, band gap engineering, and stability. Additionally, it provides a summary of recently reported materials used in various layers of PSC, including the perovskite layer, as well as electron and hole transport layers. Lastly, the article outlines the challenges faced in the development of PSC, offers recommendations, and suggests potential directions for future research to guide the field forward.