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Price Prediction

This document provides an overview of a project to use machine learning techniques to predict real estate prices. The objectives are to help users understand factors influencing house prices and predict market values. The methodology will obtain and preprocess a real estate dataset then apply regression algorithms like linear regression, gradient boosting, and random forests to find the most accurate model. The expected outcome is a model that can predict house prices accurately based on user needs. This could help buyers and sellers determine fair prices and reduce issues. The future scope is to benefit both individuals and large companies through more accurate price predictions.

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shouryabiz07
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101 views16 pages

Price Prediction

This document provides an overview of a project to use machine learning techniques to predict real estate prices. The objectives are to help users understand factors influencing house prices and predict market values. The methodology will obtain and preprocess a real estate dataset then apply regression algorithms like linear regression, gradient boosting, and random forests to find the most accurate model. The expected outcome is a model that can predict house prices accurately based on user needs. This could help buyers and sellers determine fair prices and reduce issues. The future scope is to benefit both individuals and large companies through more accurate price predictions.

Uploaded by

shouryabiz07
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
You are on page 1/ 16

Real Estate Price Prediction

using Machine Learning

By: Arun
Supervisor: Dr. Ravinder chahar
Mohit Chaudhary
Shashank Rai
Arnav Lakha
11/29/2023
Shourya Ahuja 1
TABLE OF CONTENTS
1)Introduction

2) Problem Statements

3) Objectives

4) Hardware and software requirements

5) Literature Review

6)System Design

7) Methodology

8) Expected Outcome Of project /Result

9) Conclusion & Future Scope

10)References

11/29/2023 2
Abstract
House price forecasting is an important topic of real estate. The literature attempts to
derive useful knowledge from historical data of property markets. Machine learning
techniques are applied to analyze historical property transactions in India to discover
useful models for house buyers and sellers. Revealed is the high discrepancy between
house prices in the most expensive and most affordable suburbs in the city of Mumbai.
Moreover, experiments demonstrate that the Multiple Linear Regression that is based on
mean squared error measurement is a competitive approach.

11/29/2023 3
Introduction
ynot aware of factors that influence the house prices. Many problems are faced during buying a house. 
Problem Faced during buying a house

 Buying a house is stressful thing.

 Buyers are generally not aware of factors that influence the house prices.

 Many problems are faced during buying a house.

 Hence real estate agents are trusted with the communication between buyers and
sellers as well as laying down a legal contact for the transfer. This just create a middle
man and increases the cost of houses. the communication between buyers and sellers as well
as laying down a legal contact for the transfer. This just create a middle man and increases the cost of houses.

11/29/2023 4
PROBLEM STATEMENT

• Housing prices in any city are an important reflection of the economy,


and housing price ranges are of great interest for both buyers and
sellers. Prices of real estate properties are sophisticatedly linked with
our economy.

• Despite all of this, we do not have accurate measures of housing


prices based on the vast amount of data available. Therefore, the goal
of this project is to use machine learning algorithms to predict the
selling prices of houses based on many economic factors.

11/29/2023 5
Project OBJECTIVES

• To help all the users that are trying to find out the cost of any real
estate property.
• To predict the market value of a real estate property.
• Help to find a starting price for a property based on the geographical
variables.

11/29/2023 6
Hardware and software requirements
• SYSTEM REQUIREMENTS:
• HARDWARE REQUIREMENTS:
• System : Pentium i3 Processor.
• Hard Disk : 500 GB.
• Monitor : 15’’ LED
• Input Devices : Keyboard, Mouse
• Ram : 6 GB.
• SOFTWARE REQUIREMENTS:
• Operating system : Windows 10 Pro.
• Coding Language : Python 3.10.9
• Web Framework : Flask.
11/29/2023 7
Literature review
• Real Estate has become more than a necessity in this 21st century, it
represents something much more nowadays. Not only for people
looking into buying Real Estate but also the companies that sell these
Estates. According to Real Estate Property is not only the basic need
of a man but today it also represents the riches and prestige of a
person. Investment in real estate generally seems to be profitable
because their property values do not decline rapidly. Changes in the
real estate price can affect various household investors, bankers,
policymakers, and many. Investment in the real estate sector seems to
be an attractive choice for investments. Thus, predicting the real
estate value is an important economic index.
11/29/2023 8
System design

11/29/2023 9
METHODOLOGY

• The methodology of predicting the price of real estate proceeds by


obtaining & preprocessing the dataset, then applying various
algorithms/regression techniques to find out the best suitable
algorithm for the project.

11/29/2023 10
11/29/2023 11
EXPECTED OUTCOME

The main outcome of this model is to predict the price of a house


accurately as per the user requirements. This study has attempted to
implement various machine learning algorithms like Linear Regression
(LR), Gradient Boosting Regressor (GBR), Histogram Gradient Boosting
Regressor, and Random Forest (RF) Regressor algorithms.
It also helps people in choosing houses based on their budgets, which do not
affect their financial state in the future. Finally, the algorithm that generates
high accuracy is considered for predicting the house price.

11/29/2023 12
Working model

11/29/2023 13
Conclusion and future scope
Buying your own house is what every human wish for. Using this proposed model,
we want people to buy houses and real estate at their rightful prices and want to
ensure that they don't get tricked by sketchy agents who just are after their
money. Additionally, this model will also help Big companies by giving accurate
predictions for them to set the pricing and save them from a lot of hassle and save
a lot of precious time and money. Correct real estate prices are the essence of the
market and we want to ensure that by using this model.

11/29/2023 14
REFERENCES

1. Nihar Bhagat, Ankit Mohokar, Shreyash House Price Forecasting using Data Mining.
InternationalJournal of Computer Applications.

2. Sunitha Cheriyan , Shaniba Ibrahim, Saju Mohanan,Susan Treesa Intelligent Sales


PredictionUsing Machine Learning Techniques-cheriyan2018. [3] Akshay Krishna, Akhilesh
V,Animikh Aich, Chetana Hegde Sales-forecasting ofRetail Stores using Machine Learning
Techniques3rd IEEE International Conference onComputational Systems and
InformationTechnology for Sustainable Solutions 2018.

3. Purvika Bajaj, Renesa Ray, Shivani Shedge ,Shravani Vidhate, Prof. Dr. Nikhil Kumar
Shardoor IRJET- SALES PREDICTION USING MACHINELEARNING ALGORITHMS Volume: 07
Issue: 06 |June 2020.

4. Sekban, Judi. "Applying machine learning algorithms in sales prediction." (2019).


11/29/2023 15
Thank You!

11/29/2023 16

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