As an elastomer of natural origin, polyisoprene has many useful features such as good mechanical strength and elastic properties. In spite of the unique properties and potential applications of rubber, it is necessary to establish appropriate modifications to explore fully the high potential of this polymers. Natural rubber latex is blended with the resin exudated from Ailanthus Malabaricum Tree with suitable proportions. The preparation methods are simple and cost effective. Both the polymers are naturally available. Processing characteristics, miscibility and polymer-polymer interaction, morphology, electrical properties and mechanical properties have been reported. If the elastomeric phase is sufficiently vulcanized, then the physical and chemical properties of the blend are generally improved. This blend is found to be immiscible with good mechanical properties in terms of elasticity. Finally, it can be concluded that the preparation of this elastomeric blend is beneficial for the development of cost-effective elastomeric materials for specific electric applications.