This paper highlights the design, electromagnetic analysis, system modelling, set-up fabrication, and finally control of an attraction type lab developed levitation prototype. The objectives of this work are parameters' evaluation, for example, force, inductance, and current-air-gap characteristics using a novel analytical model, electromagnetic results, and practical experiments.The FE model has been built using standard packages. A novel permeance function-based approach is developed for the analytical evaluation of parameters. These are verified by actual experiments too with excellent correlation between the sets of results. Agreement between analytical and practical values also show that the modelling is perfect and reliable which further leads to accurate design, fabrication, and implementation of the controller. A simple but reliable controller has been designed, analyzed, and implemented. The performances have been significantly improved. Finally, the steel object has been successfully and steadily levitated in robust condition.