Recently, I just found out the CM 11 is very laggy and battery drains really quick. I was hoping for a solution can anyone help me out ?
Debloat Gapps, what version do you use? Remove Google+ if there is some, it takes about 30MB... For battery, change governor and IO scheduler with NO Frill CPU app to PegasusQ/SIO for example. Generaly CM11 drains battery more than stock. And if you have installed it today, take 3 full charges and see what will happen. When I change ROM I get more battery drain in first 2-3 charges.
I told you how to change IO and Governor, with NO frill CPU, download it from Play store.
Or like R_a_z_v_a_n told you.
P.S. Change launcher, install NOVA launcher or APEX from play store. The one with CM11 is lagging.