Nanocrystalline zirconates of barium and lead have been synthesized using a modified reverse micellar route (avoiding alkoxides). The entire solid solution of Ba1-xPbxZrO3 (0 <= x <= 1) has been synthesized for the first time. Powder X-ray diffraction studies show the monophasic nature of the powders after heating at 800 degrees C except minor impurities of ZrO2 (2%-3%) at a higher lead content (x=0.50 and 0.75). The oxides crystallize in the cubic structure till x=0.25; for higher values, they crystallize in the orthorhombic structure. The particle size obtained from X-ray line-broadening studies and transmission electron microscopic studies is found to be in the range of 20-60 nm for all the oxides obtained after heating at 800(o)C. The grain size of the solid solution of Ba1-xPbxZrO3 (0 <= x <= 1) was found to increase with the lead content. The dielectric constant of the solids corresponding to Ba1-xPbxZrO3 (0 <= x <= 1) was found to be a maximum at x=0.50. Note that the cubic to orthorhombic transition is also observed between x=0.25 and 0.5. Dielectric properties with respect to variation in frequency and temperature are reported for these nanocrystalline oxides for the first time.