The present study investigated the feasibility of domestic sewage wastewater (DSW) as an alternate to freshwater microalgae growth media towards high-value bioenergy feedstock production. Eight native microalgal strains were screened from DSW and the effect of raw DSW (RDSW), and autoclaved DSW (ADSW) on growth and bioremediation potential were evaluated and compared with control BG11 medium. The study confirmed RDSW as a potential growth medium while Monoraphidium sp. KMC4 showed superior biomass (1.47 0.08 g L-1) and lipid yield (436.01 0.06 mg L-1). The corresponding values for bioremediation of ammonia, nitrate, phosphate, as well as COD remained within 88-100%. CHNS, biochemical, TGA, FTIR, FAME analysis of KMC4 confirmed it's potential as bioenergy feedstock. Additionally, a comprehensive characterization of lipid-extracted microalgae biomass (LEMB) was carried out which suggested that LEMB can be used as a growth promoter as well as feedstock for biogas, bioethanol, and bio-oil production.