Hi Ravi,
oh there are sooooo many ways to do that and none is perfect. :-)
You can try to automate your manual process a bit more with Powershell script, etc. But that is something neither very reliable nor very comfortable. Besides in TM1 v12 it will be gone most likely.
You can utilize the built-in git-functionality which is rather powerful but lacks a frontend to manage it. But TM1py does a decent job automating it. We have that running at 1 or 2 customers and it definitely is the future (in my opinion).
Cubewise Pulse and Cubeac have a migration assistant but so far I haven't used one of those in a production environment. That is most likely the easiest way to migrate objects. But obviously not as flexible as scripting it yourself.
You can create your own git-integration using the rest api and the script language of your choice. Most flexibility and most work for you.
Depending on how tech-savvy you are I would either go with Cubewise Pulse or Cubeac or create my own process with TM1py and the built-in git-functionality.
Hope that helps... :-)