I have created family table for 4 parts and created assembly with 4 parts.
Is there any options or command that can quickly create the remaining assembly using parts family table order?
It is possible to create a family table of your assembly. For the first assembly you create in the family table, select yes for every component and use all of your general parts from your family tables of your parts. Open up your first assembly in the family table and replace the components from your first parts in your part family table. Then I open up the general once again and edit the rest of the assemblies using excel.
There is a bit of set up to this, but if you have an assembly with 15 or so variations it can save you a ton of time.
Thanks for your suggestion it works out well. Is there any similar way for creating the drawing too in similar fashion.
Now I tried with creating my own template but every time I have to remove my master model and bring in the new one. Is there any shortcut way?
Not sure, but the wording suggests your template drawing has a solid model in it. Generally, a drawing used as a template should not (there are valid workflows with one, but rare).
If you are working not in a template way, then 'copy generic.drw to insta.drw, open it, drawing models, replace, generic with insta, save' could get you a 'similar drawing of the instance assembly'.