Which forum should i refer to for sponsoring my sister and parents?
-------Family based.
And is parent-sponsorship faster
---------Yes you have to file I-130. you will also need Copy of your Parents Birth certificate , Copy of marriage and evidence that they are your parents.
than sister-sponsorship
-------------------it will take about 10-12 years if you are from India. you need to file I-130 and will need copy of sister birth certificate, evidence to prove that she is your sister (if she is married then copy of her marriage certificate ,copy of Birth certificate of her husband and children)
OR do they both take the same time?
---------------Sister/Brothers cases take long time and many don't come to US when immigrant visa becomes available for them after 10-12 years. Only persons from Gujarat state of India are interested after 10-12 years. Many from other states of India don't prefer to come at this time even if they have immigrant visa available for them and they don't go to US consulate for Interview and they know the conditions of US and know that it will not be easy to find job.