There has been extensive research on the seismic response of Reinforced Concrete (RC) and Special shear wall in various earthquake zones, but there has been less research on the overall performance checking and reliability assessment till the end of their structural life span. In the present study, examples of RC ductile (Special) Shear wall in Seismic Zone V were taken and designed by using Indian Code for plain and reinforced concrete (IS 456:2000) and for ductile design and detailing of RC structures subjected to seismic forces (IS 13920:2016). After this, with the help of various methods of computing Reliability Index, probability of failure and subsequently reliability assessment was done. In this study, Hasofer and Lind’s method and Cornell (1968) formula was used for the computation of reliability indices for both the limit state of shear and limit state of flexure (i.e. at the overall limit state of collapse) and validated it by software. Also, by creating variation in the values of various parameters used in design of shear wall like concrete grade and geometric properties, variation in reliability index and overall reliability of Shear wall had been calculated and compared to suit the parameters to the best depending upon the reliability outcomes. It was observed that for small change in geometric properties and concrete grades, reliability changes sharply. Also, reliability-based design was done to finally get the values of partial safety factors newly for the target reliability index set earlier due to which some additional changes in the design could be suggested to make structure at its target range of reliability, safety and also cost effective.