The building sector in India is criticized for its time and money overruns. If India wants to recover from the damage this issue has done to its economy and development, it must act. Several issues impact the construction industry's time, money, and quality performance. The construction project has gotten increasingly difficult to complete. According to the literature study, time and cost performance is the area that has to be researched thoroughly. Questionnaire was finalized and sent out to the client, contractor, supplier, and consultant, among others, who were involved in small-scale building. Respondents were requested to complete a floating questionnaire by ranking the provided elements according to the frequency and intensity of their impact. Stakeholders primarily from the states of Gujarat, Maharashtra, and Karnataka responded. Every factor was ranked for each stakeholder using the Relative Importance Index (RII). The most effective method for addressing the major problems faced by the contractor, client, consultant, and suppliers is provided, together with the suitable solution and justification for its implementation. This will enable all stakeholders to succeed with the lowest losses and maximum profit. According to the survey's findings, the top five variables that lead to construction projects going over budget and behind schedule are: It is crucial to take action once you are aware of the factors that can cause delays and cost overruns. Our findings would be useful to stakeholders in the building industry because of the answers we offered. Given that our results would be useful to the building industry's stakeholders.