In the world industries are growing very rapidly resulting in fast development. Various industries are coming up such as that of dyes, paints, pharmaceuticals etc. Dyes are used in various industries and release pollutants in the environment. It is necessary to remove such pollutants from the environment. Euphorbia neriifolia L. grow as the weed in the forests of the konkan region in waste land area. This weed is a typical latex bearing plant. This latex can be converted into the powder under sun drying process. This powder can be used for the preparation of Fe nanoparticles. The plant assisted synthesized nanoparticles have good particle size, morphology and band gap. These nanoparticles used for the degradation of the dye like Methylene Blue and Methylene Red from the industrial waste. It gives very good results. We can develop new catalyst for the degradation of the dyes from the industrial waste. It act as good catalyst by the simple non form of the catalyst. This catalyst is derived from the plant Euphorbia neriifolia L. latex.