Lead (Pb)-free layered double perovskites (LDPs) with exciting optical properties and environmental stability have sparked attention in optoelectronics, but their high photoluminescence (PL) quantum yield and understanding of the PL blinking phenomenon at the single particle level are still elusive. Herein, we not only demonstrate a hot-injection route for the synthesis of two-dimensional (2D) ∼2–3 layer thick nanosheets (NSs) of LDP, Cs4CdBi2Cl12(pristine), and its partially Mn-substituted analogue [i.e., Cs4Cd0.6Mn0.4Bi2Cl12(Mn-substituted)], but also present a solvent-free mechanochemical synthesis of these samples as bulk powders. Bright and intense orange emission has been perceived for partially Mn-substituted 2D NSs with a relatively high PL quantum yield (PLQY) of ∼21%. The PL and lifetime measurements both at cryogenic (77 K) and room temperatures were employed to understand the de-excitation pathways of charge carriers. With the implementation of super-resolved fluorescence microscopy and time-resolved single particle tracking, we identified the occurrence of metastable non-radiative recombination channels in a single NS. In contrast to the rapid photo-bleaching that resulted in a PL blinking-like nature of the controlled pristine NS, the 2D NS of the Mn-substituted sample displayed negligible photo-bleaching with suppression of PL fluctuation under continuous illumination. The blinking-like nature in pristine NSs appeared due to a dynamic equilibrium flanked by the active and in-active states of metastable non-radiative channels. However, the partial substitution of Mn2+stabilized the in-active state of the non-radiative channels, which increased the PLQY and suppressed PL fluctuation and photo-bleaching events in Mn-substituted NSs.