for a drift/race track you need atleast 0.5 km sq. which is app. 700m side square. this is ~125 acres.
Current rate per acre for land near/around kahna nau, gajju mata etc (south of lahore, east of raiwind, at the end of ferozpur road) is around 3-4lac. that is approximately rs 45 million for land.
After that, you need to build the track. Ask any construction company, the rate for making 2 or 3 lane road (that is how wide a race track is right?). I think the construction rate would be around rs 40-50 million per km.
Unused land can be rented out at 5% of land value per annum (about rs 17,500 per acre per year) initially, later maybe sold to developers at better rate or used to construct further facilities like maybe a commercial center.
Estimated project cost could be anywhere between rs 150-250 million, maybe more.
You can ask fazal wahab for track construction cost estimates.
Now lets talk about profitability.
-App. 30 acres in the center of the circuit is rented out, making ~0.5m per year. not much.
-No one knows what you can earn by organizing racing/drifting events, say weekly or something.
But lets assume 10,000 people(which I think is a very reasonable estimate) come there every year, each guy spending rs 500 on ticket, you get a revenue total of maybe 5 million. which is not much considering you spent upto 250m.
You need atleast 25m in profits per year for any sane investor to consider investing in it. this turns out to be 60,000-70,000 tickets sold in 1 year. which I think is unreasonable.
So there you go, its financially not feasible to start such a project. the margins are too low. And its too risky.
