The predictive analysis of the design to ensure that, it will perform the given I/O function is performed through functional verification. Verification has become the dominant cost in any of the design process. The modernization of functional verification has become necessary task in verifying a large design. The paper focuses on designing the bi-directional network-on-chip router through virtual channel regulator and then AXI bus and thus developing the common verification environment for both the designs to show the reusability of test bench.