Parafoil is non-rigid wing usually made up of porous fabric. The estimation of aerodynamic parameter is carried out using analytical and experimental data available to check its response against extreme conditions. This knowledge is also used for controlling the system. A 9DOF mathematical model was developed to simulate the dynamics of the parafoil during its flight. The parafoil was instrumented with an INS system and experiments were carried out to acquireits flight data, along the airstrip available at Flight Lab, IIT Kanpur. The parafoil also had the capability to perform data telemetry which after being recorded at the ground station was analysed to study its dynamics during flight. Using the 9 DOF mathematical, a control law has been developed and tested using MATLAB simulations to autonomously control the parafoil using its control surfaces for achieving a precision landing.