Carbon Nanotube Field Effect Transistor (CNTFET) is one of the promising devices for future nanoscale technologies. In this paper, we have studied the drain characteristics of MOSFET-like CNTFETs for different device parameters like, channel length, diameter of CNT, and number of tubes. It is shown that these device parameters can be used to make important design decisions while designing nanoelectronic circuits. A buffer and ring oscillator circuits are designed using the MOSFET-like CNTFET and propagation delay, power, and power-delay-product (PDP) values are calculated and compared with the CMOS based designs. Also, the CNTFET technology based SRAM cell is compared with CMOS technology based SRAM in term of power consumption. We have shown that CNTFET can exhibit better performance in the nanoscale regime as compared to its CMOS counterparts.