1.

INTRODUCTION
In this report, we propose our system “House price prediction”. House is one of human life's most
essential needs, along with other fundamental needs such as food, water, and much more. Demand
for houses grew rapidly over the years as people's living standards improved. House price
prediction can be done using multiple prediction models (Machine Learning Model) such as
support vector regression, artificial neural network, etc. There are many benefits that home buyers,
property investors, and housebuilders can reap from the house-price model. This model will
provide a lot of information and knowledge to home buyers, property investors, and housebuilders,
such as the valuation of house prices in the present market, which will help them determine house
prices. The target feature in this proposed model is the price of the real estate property and the
independent features are: no. of bedrooms, carpet area, the floor, car parking, and lift availability.
The whole implementation is done using the python programming language.
2. OBJECTIVE
The general and standardized real estate characteristics are often listed separately from the asking
price and general description. Because these characteristics are separately listed in a structured
way, they can be easily compared across the whole range of potential houses. Because every house
also has its unique characteristics, such as a particular view or type of sink, house sellers can
provide a summary of all the important features of the house in the description. All given real estate
features can be considered by the potential buyers, but it is nearly impossible to provide an
automated comparison of all variables due to the large diversity. This is also true in the other
direction: house sellers have to estimate the value based on its features in comparison to the current
market price of similar houses. The diversity of features makes it challenging to estimate an
adequate market price. Apart from providing a summary of the important features of the house, the
house description is also a means of raising curiosity in the reader, or in other words persuading
the person. Housing prices are an important reflection of the economy, and housing price ranges
are of great interest to both buyers and sellers. In this project, house prices will be predicted given
explanatory variables that cover many aspects of residential houses. The goal of this project is to
create a regression model that can accurately estimate the price of the house given the features.
3. LITERATURE SURVEY

i. Survey Existing System: Trends in housing prices indicate the current economic situation and
also are a concern to the buyers and sellers. Many factors have an impact on house prices, such as
the number of bedrooms and bathrooms. House price depends upon its location as well. A house
with great accessibility to highways, schools, malls, and employment opportunities, would have a
greater price as compared to a house with no such accessibility. Predicting house prices manually
is a difficult task and generally not very accurate, hence there are many systems developed for
house price prediction. Sifei Lu, Zengxiang Li, Zheng Qin, Xulei Yang, and Rick Siow Mong Goh
had proposed an advanced house prediction system using linear regression. This system aimed to
make a model that can give us a good house price prediction based on other variables. They used
the Linear Regression for Ames dataset and hence it gave good accuracy.

ii. Limitation Existing system or research gap: In the existing literature, a limited amount of work
has been focused on the housing price prediction model, particularly, to solve the problem using
machine learning approaches. A few identified papers were reported above. In addition, most of
the past research considered the housing market problem as a classification problem to develop a
classification model instead of a regression model. Therefore, the objective of the study is to
predict the housing price valuation using machine learning techniques and considering competitive
regression models. An improved ML-based algorithm is proposed, which includes the predicted
target price binning variable as features in the model and improves the model accuracy
significantly. More precisely, the model accuracy is increased by 10 percent compared to other
contemporary machine learning techniques.
4. RESEARCH METHODOLOGY

a. Data Collection: For doing machine learning projects we need a vast amount of data
which we have taken through the Kaggle website. The data consists of several factors
in a house of a given locality such as the number of bedrooms, carpet area, location,
etc. The dataset that we will be using will be batch i.e., static data and not dynamic.

b. Train the Dataset and Feature Extraction: The dataset will further be trained and
processed using Linear Regression Algorithm which will predict the house price
accurately. The algorithm used will be a regression since regression helps to get a value
by analyzing a dataset, in this condition the value is the price of the house.

c. Displaying the output: The project uses a web application to work with the users
and give them accurate price predictions. The user will input features accordingly
which they want on the frontend and the data will be processed on the backend using
Linear Regression and the predicted output will be shown to the respective user.
5. ALGORITHM

1) Importing the required packages into our python environment

Tools required: -
1. Python
2. Jupyter Notebook
3. Scikit Learn.
4. NumPy
6. REFRENCES
https://www.jetir.org/papers/JETIR2204579.pdf