Objectives: To compare the Expanded Polystyrene (EPS) core panel system in comparison with the conventional construction system for mass housing projects by showing its impact on project completion time and cost. Methods: A mass housing project proposed by the Tamilnadu slum clearance board is selected which is designed using the EPS core panel system. The cost and project completion time has been calculated for this project. For the same project, using the conventional method, the cost estimation and project completion time are calculated. Findings: It is found that the EPS core panel system costs 21.30 percent less than the conventional method of construction. The project completion time of the EPS core panel system is 448 days earlier than the conventional construction method. This paper concludes that the EPS core panel system is more efficient for mass housing projects in terms of project cost and project completion time. Novelty: The novelty of this research is that no previous studies have been done to assess the suitability of the EPS core panel system for mass housing projects at this particular location. Also, the projects selected for case studies were not on large scale. In this study, a mass housing project on a 13.40 acre site is selected.