Though Light gauge steel framing is widely employed construction technique, LGS framing membes cladded with factory cast ferrocemnent panels is a novel form of construction. Use of factory cast ferrocement panel as cladding material is an improvisation over the attempts of using gypsum boards plasterboards, steel sheathing, and wooden panels. In the present work, project cost and project duration for G + 1 Building constructed in Reinforced concrete (RCC) and in LGS-ferrocement composite form have been compared. The sequencing of project activities and estimation of project duration of G + 1 building in both the forms has been performed on commercially available project planning software (MSP 2010). A selected G + 1building has been constructed employing LGS-ferrocement composite form at Pune, Maharashtra in year 2021–2022. The estimated project cost and duration is validated using the data for the construction of building at Pune, Maharashtra. Employing LGS-ferrocement form not only results in multi-fold reduction of project cost and duration but also guarantees sustainability by marginalizing carbon foot print of the construction when compared to RCC form. © 2022