The challenge
A private owner of a vacant commercial plot on one of Lahore's busiest commercial corridors planned to sell and needed a price they could defend. The available evidence was hard to trust. Portal asking prices for similar plots differed by more than double per square foot.
Listings mixed plot sizes, corner and non-corner plots, residential plots sold as commercial, and ads that were no longer live. Government valuation rates existed, but they are tax references, not market prices. Even the plot's area was recorded in kanal, marla and square feet, which made conversion errors easy.
Our approach
We built an evidence-first property valuation workbook in Excel. This is the kind of [[data-analytics|data analytics work for real estate]] that turns scattered listings into one documented view.
First, the plot's registry area was reconciled against its physical dimensions (they matched within about 0.1%), so every rate was applied to one agreed area. Next, we screened 14 portal listings from Zameen.com and Lamudi.pk and ranked them in three tiers: direct main-road listings, link-road listings and broader Gulberg listings.
Residential, corner, stale and unverifiable listings were left out of the live averages and kept only as context. FBR (SRO 1722(I)/2024) and District Collector rates were added as statutory cross-checks and labelled as non-market. Agent conversations were logged separately as negotiation intelligence, not as comparables.
A source register recorded where every input came from, when it was retrieved and whether it was verified. We also documented the plot's 13 LDA building restrictions, because they affect development potential.
What we delivered
- Valuation report (4-5 pages) with a working price range and negotiation guidance
- Multi-sheet analytics workbook: plot details, statutory benchmarks, screened comparables, agent log and valuation summary
- Source register recording where every input came from, when it was retrieved and whether it was verified
- Documented LDA building restrictions that affect development potential
- Open-items list for documents still awaited (registry copy, commercialisation fee receipt)
How it works
The core of the model is a verification-first comparables framework. Each listing carries its portal, collection date, tier, size, corner status, status (active or stale) and a valid-comparable flag, so exclusions are visible and not hidden.
Price per square foot is calculated for each listing, and averages come only from active, valid listings in each tier. No time or corner adjustment was applied because no reliable market-derived adjustment could be established, and the workbook says so.
The valuation summary ranks evidence in a fixed order, with size-matched direct listings first and statutory rates last, so statutory figures can never override market evidence. Every material input links back to the source register with a verification status.
Results
Within a week of project kickoff, the owner received a 4-5 page valuation report and a multi-sheet analytics workbook covering the plot details, statutory benchmarks, screened comparables, agent log, valuation summary, source register, LDA restrictions and client confirmation log.
The pricing view was presented as an indicative asking-price analysis with a working range and negotiation guidance, not as a bank valuation or legal opinion. Items still awaiting documents, such as the registry copy and the commercialisation fee receipt, were flagged openly instead of being assumed.
The client reviewed the workbook, confirmed it looked good, and the engagement was closed on schedule. For teams that want this kind of analysis as a live dashboard, we can also build it with [[power-bi-dashboards|Power BI dashboards and reporting]].
Technology and data sources
- Excel Modelling
- Google Sheets
- Zameen.com & Lamudi Data
- FBR SRO 1722(I)/2024
- Punjab e-Stamping Portal
Project visuals
Services used in this project
Questions about this project
Is this a bank valuation or a legal opinion?
No. It is an indicative asking-price analysis that sets out the evidence, the assumptions and a working range. A bank-accepted or legal valuation needs a licensed valuer.
Why are FBR and District Collector rates not used as the price?
They are statutory references used for tax purposes, not market prices. In the workbook they appear as cross-checks and rank below market evidence.
Which data sources were used for the property valuation?
Portal listings from Zameen.com and Lamudi.pk, FBR and District Collector rates, the plot's registry and building-restriction records, and logged agent conversations kept separate as negotiation intelligence.
Can Hamrix build a similar analysis for my property or portfolio?
Yes, where the data can be gathered and checked. We start with a short scoping call to agree the area, the data sources and the questions the workbook must answer. See our [[data-analytics|data analytics services in Pakistan]].
