Hi Naveen,
lazybones bones is very interactive , flexible and easy to customize according to your project need. Adobe consulting Services (ACS) provides a aem multi module template using which you can create AEM projects, which includes lot of default config options and also provides an option to include the ACS commons package as a sub package. you will have lot of options to configure your new project.
http://www.aemcq5tutorials.com/tutorials/create-aem-project-structure-using-lazybones/
* Using Lazybones now you can also see template under template editor.
When we create a aem project using Maven archetype it is not easy to customize, it provides lots of sample content and packages like test, launcher. Which might not be required for your project.
https://helpx.adobe.com/experience-manager/using/first-arch10.html
As per My understandings, Maven Archetype 10 was suggested till AEM 6.2 but from now futher releases lazybones is suggest.
~ Prince
