Residential plots in a developing scheme are valued on comparison and expectation. Commercial plots on a boulevard with operating tenants are valued on rent. That difference matters more than most buyers realise.
Why yield data changes the analysis
When shops are trading, you can ask three questions that have factual answers: what does a comparable unit rent for, how long has the tenant been in place, and what is the vacancy on this stretch. None of those questions have factual answers for a residential plot in a block that has no houses yet.
What we see on the boulevard
The trading arcades on the main boulevard have low vacancy and stable tenancies — pharmacies, groceries, mobile shops, a bank branch. Rents are quoted per shop rather than per marla, so comparison requires normalising by frontage and floor.
Where the risk sits
Frontage is everything. A corner unit with two frontages and a service lane does not compare to an interior unit in the same arcade at the same size.
Floor matters more than in residential. Upper floors in these arcades let at a substantial discount to ground floor, and let more slowly.
Height allowance is not the same as demand. Ground plus four is approved. That does not mean four floors of office space will let in the near term.
The practical approach
Underwrite on ground-floor rent that you have verified with the current tenant, treat upper floors as optionality rather than income, and price the plot on the frontage you can actually see.