As per the info provided by the BLS staff at the counter when I submitted my application, it will take 15 days to get back your original landing paper plus any other document they took for verification. After that it will take 3 to 4 weeks to get the OCI booklet. So, totally it should take about 45 to 60 days for normal applications if everything is fine. But, if they want additional info and ask to send any other documents it may take some more days.
As per the timelines posted by other applicants in this thread recently, I understand that many people get it in about 45 days (Brampton/ Toronto).
This may change for other Consulates / BLS centres.
Thanks for the info. much appreciated.. i think i am in trouble.. i have a copy of "Confirmation of Permanent Resident" and copy of my expired PR card.