but drawback is that it takes10 t0 12 hours to get dry and do not last for long period
You can add liquid paraffin to the henna paste. It will dark the henna color and will last for long time.
You need only 2 to 4 hours for good color results after applying henna. With or without adding paraffin.
What you are saying here goes against everything I've ever learned about using henna for skin designs. Paraffin (aka wax) is not going to help the color. Henna is an endothermic reaction that needs to stay wet and acidic to become dark. Wax doesn't do that.
And I've gotten henna results that last for close to a month by sleeping with the henna on my skin overnight, which is how it is traditionally done for brides in India or the Middle East.