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14 views

Codeup

Uploaded by

goudasanjay09
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Real estate Price Prediction

Sanjay Gouda
[4SN23SCS092]
Sudeep Naik
[4SN23CS405]
Shriram Gouda
[4SN22SCS099]
Nikhil Shetty
[4SN23CS402]
CONTENTS

• Introduction
• Literature Survey
• Problem statement
• Objective
• References
INTRODUCTION

• This project aims to develop a predictive model to estimate real estate prices
based on key factors such as location, property type, size, and market trends.
Accurate price predictions are valuable for buyers, sellers, and investors,
helping them make informed decisions in a fluctuating market. Using machine
learning algorithms like Linear Regression, Random Forest, and XGBoost, we
analyze historical data to identify trends and patterns. The model is evaluated
using metrics like RMSE to ensure precision. This tool ultimately serves as a
reliable resource for strategic real estate insights and pricing guidance.
ADVANCED FEATURES

• Proximity to public transport


• Crime Rate in Area
• School Quality and Rating
• Air Quality and Noise Levels
• Market Conditions
• View and Floor Level
LITERATURE SURVEY

• A concise literature survey on real estate price prediction focuses on the use
of both traditional statistical models and advanced machine learning
techniques to estimate apartment prices accurately. Traditional approaches
like hedonic pricing models and linear regression help understand the impact
of features such as location, size, and amenities. Recent advancements
leverage machine learning models, including Decision Trees, Random Forests,
and gradient boosting methods like XGBoost, which capture complex, non-
linear relationships in data. Deep learning techniques like Artificial Neural
Networks (ANNs) and Convolutional Neural Networks (CNNs) further enhance
predictive accuracy, especially with image or geospatial data. Overall, hybrid
models combining statistical and machine learning methods are also gaining
traction for improved accuracy and robustness.
PROBLEM STATEMENT

• To develop an accurate and reliable predictive model that estimates the price
of residential apartments based on various property attributes, such as
location, size, amenities, neighborhood characteristics, and market trends. The
model should help prospective buyers, sellers, and real estate professionals
make informed decisions by providing price estimates reflective of current
market conditions. This project aims to address the challenges of data
variability and complex non-linear relationships in real estate pricing by
utilizing advanced machine learning and data processing techniques,
ultimately delivering a tool that enhances transparency and efficiency in
property valuation.
OBJECTIVE

• The primary objective of the real estate price prediction


project is to create a model that accurately estimates
apartment prices based on critical factors like location,
property size, amenities, and market trends.
REFERENCES

• Data Sources for Real Estate


• Zillow Research Data: Home value indices, rental data, and other
real estate market trends.
• Key Research Papers
• "House Price Prediction Using Machine Learning Algorithms" –
Comparison of models for real estate price prediction.
• Real-World Case Studies
• Zillow Zestimate Algorithm: An industry example on leveraging
ML for property price estimation.

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