House Price Prediction
A PROJECT REPORT
Submitted by
Diksha thakur (22BCS13011) Kunal (22BCS13039)
Nivedita Tiwari(22BCS13031)
in partial fulfillment for the award of the degree of
BACHELOR OF ENGINEERING
IN
COMPUTER SCIENCE ENGINEERING
Chandigarh University
Jan 2024
Certified that this project report “House price Prediction” is the bonafide work of
“Diksha,Nivedita,kunal” who carried out the project work under my/our
supervision.
<<Signature of the Supervisor>>
<<Signature of the HoD>>
SIGNATURE
SIGNATURE
<<Name>>
<<Name of the Head of the Department>>
SUPERVISOR
HEAD OF THE DEPARTMENT <<Academic Designation>>
<<Department>> <<Department>>
Submitted for the project viva-voce examination held on
INTERNAL EXAMINER EXTERNAL EXAMINER
TABLE OF CONTENTS
List of Figures .............................................................................................................................
7
List of Tables .............................................................................................................................. 8
List of Standards ......................................................................................................................... 9
CHAPTER 1. INTRODUCTION ....................................................................... 11
1.1. Identification of Client/ Need/ Relevant Contemporary issue ........................................ 11
1.2. Identification of Problem ............................................................................................... 11
1.3. Identification of Tasks .................................................................................................... 11
1.4. Timeline ......................................................................................................................... 11
1.5. Organization of the Report ............................................................................................. 11
Chapter 1:Introduction:
In house price prediction ,we are supposed to predict the price of a house given a
various scenarious the scenarious can be based on the median income of a person ,
the age of a house the numbers of rooms or the population in that particular
[Link] first we are going to collect the data from various sources,Preprocess the
data .Generate new data.
1.1 Identification of Client/ Need/ Relevant Contemporary
issue
A real estate consulting business that specialized in offering property appraisal
services to customers wishing to purchase, sell, or invest in residential real estate
is the project client.
Need:
The necessity is a result of the real estate market's growing complexity and
volatility, where precise home price forecasts are essential for making well-
informed decisions. For clients to maximize their investments, a dependable
model that can accurately forecast housing values is necessary.
Justification via Statistics and Documentation: To illustrate the current
difficulties in precisely projecting home values, statistics from recent real estate
transactions and market reports will be consulted. Insights into the intricacy of
the contemporary real estate scene may be gained from government housing
studies, market analysts, and real estate agency documentation.
Real estate brokers, investors, and prospective customers will all be surveyed to
learn more about their concerns and how important they think precise home price
projections are. The poll will center on their experiences with current models, the
difficulties encountered, and the influence of imprecise forecasts on the process
of making decisions.
Current Issue: To illustrate the current problems in the housing market, reports
from organizations such as the National Association of Realtors (NAR), real
estate market analysis companies, and government housing bodies will be cited.
These might include things like the necessity for accurate forecasting models, the
influence of the economy, and the quickly shifting market trends.
1.2 Identification of Problem
Wide-ranging Issue:
The main issue at hand is that current home price prediction methods are unable
to produce precise and trustworthy forecasts in the dynamic and complex real
estate market of today.
1.3 Task Identification:
Activities:
Review the body of research on the shortcomings of the current house
price forecast models.
Gather and examine recent data on real estate transactions to identify
trends and patterns in home values.
Create and implement a survey to get feedback from investors, real estate
brokers, and prospective clients.
Examine reports from reliable organizations to find out about current
problems influencing the housing market.
Without giving away any specifics, outline the parameters and
requirements for developing a better housing price forecast model.
1.4. Timeline
(Offer a graphic depiction of the timeline that includes important checkpoints
and due dates for every activity)
First of all,
A synopsis of the housing market.
The value of precise home price forecasts.
The report's objectives.
1.5. Organization of the Report
Examination of the current models for predicting house prices.
Limitations of existing techniques identified.
Analyzing Data:
Examination of current data on real estate transactions.
finding trends and patterns in the cost of homes.
Results of the survey:
presentation and evaluation of the survey's findings.
perspectives from investors, real estate brokers, and possible clients.
Current Concerns:
examination of agency reports that identify current problems in the real estate
industry.
Problem Synopsis:
Problem definition based on survey results, data analysis, literature study, and
current concerns.
A better housing price prediction model's construction and testing process is
suggested.
In conclusion:
An overview of the results.
Importance of fixing the specified issue.
Suggested actions:
recommendations for dealing with the issue.
Possible directions for enhancing the current models.
An Extenda
Survey form.
comprehensive examination of the data.
This format helps the report to fully answer the needs of the customer, support the
issue with data and surveys, and draw attention to current problems in the real
estate market.
