Urbanization and climate change pose a critical challenge to stormwater management, particularly in rapidly developing cities. These cities experience increasingly impervious surfaces and more intense rainfall events. This study investigates the effectiveness of the existing drainage system in Lahore, Pakistan, a megacity challenged by rapid urbanization and the impacts of climate change. To address the lack of predefined storm patterns and limited historical rainfall records, we employed a well-established yet adaptable methodology. This methodology utilizes the log-Pearson type III (LPT-III) distribution and alternating block method (ABM) to create design hyetographs for various return periods. This study applied the stormwater management model (SWMM) to a representative community of 2.71 km2 to assess its drainage system capacity. Additionally, geographic information systems (GISs) were used for spatial analysis of flood risk mapping to identify flood-prone zones. The results indicate that the current drainage system, designed for a 2-year return period, is inadequate. For example, a 2-year storm produced a total flood volume of 0.07 million gallons, inundating approximately 60% of the study area. This study identified flood risk zones and highlighted the limitations of the system in handling future, more intense rainfall events. This study emphasizes the urgent need for infrastructure improvements to handle increased runoff volumes such as the integration of low-impact development practices. These nature-based solutions enhance infiltration, reduce runoff, and improve water quality, offering a sustainable approach to mitigating flood risks. Importantly, this study demonstrates that integrating LPT-III and ABM provides a robust and adaptable methodology for flood risk assessment. This approach is particularly effective in developing countries where data scarcity and diverse rainfall patterns may hinder traditional storm modeling techniques. Our findings reveal that the current drainage system is overwhelmed, with a 2-year storm exceeding its capacity resulting in extensive flooding, affecting over half of the area. The application of LPT-III and ABM improved the flood risk assessment by enabling the creation of more realistic design hyetographs for data-scarce regions, leading to more accurate identification of flood-prone areas.