I want to use force:createRecord so that layout assigned to the recordtype gets displayed. But I don't want to show Save and New button as it takes me to the standard new page. I want to get back to the original parent record page.
force:createRecord is an event and once fired you cannot control its behavior. You can only control anything viz, populating default fields, etc. only before firing it. Having said that, because the event itself opens the standard record creation screen, you don’t have any option to remove/add any buttons.
This event presents a standard page to create a record. That is, it doesn’t respect overrides on the object’s create action.