Download as pdf or txt
Download as pdf or txt
You are on page 1of 36

A

Seminar Report

On

“ Utilization Of Machine Learning Models In Real Estate House Price


Prediction ”

Submitted

In partial fulfillment of the requirement for the award of degree of

Bachelor of Technology

In

Computer Science & Engineering

(Session 2022-2023)

Submitted to: Submitted by:

Mrs. Madhu Choudhary Dhruv Kumar Meena

Assistant Professor (19EJCCS714)

VII Semester

Department of Computer Science & Engineering


Jaipur Engineering College & Research Centre, Jaipur

Rajasthan Technical, University

0
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

CANDIDATE’S DECLARATION

I hereby declare that the report entitled “ Utilization Of Machine Learning Models In
Real Estate House Price Prediction ” has been carried out and submitted by the
undersigned to the Jaipur Engineering College & Research Centre, Jaipur (Rajasthan) in
an original work, conducted under the guidance and supervision of Mrs.Madhu
Choudhary.

The empirical findings in this report are based on the data, which has been collected by
me. I have not reproduced from any report of the University neither of this year nor of
any previous year.

I understand that any such reproducing from an original work by another is liable to be
punished in a way the University authorities’ deed fit.

Date: 17/11/2022 Dhruv Kumar Meena

Place: Jaipur 19EJCCS714

1
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

BONAFIDE CERTIFICATE

This is to certify that the report of the seminar submitted is the outcome of the seminar
work entitled “ Utilization Of Machine Learning Models In Real Estate House Price
Prediction ” carried out by Dhruv Kumar Meena bearing Roll No.: 14 and Enrollment
No.:19EJCCS714 carried under my guidance and supervision for the award of Degree in
Bachelor of Technology of Jaipur Engineering College & Research Centre, Jaipur
(Raj.), India during the academic year 2022-2023.

To the best of my knowledge the report

i) Embodies the work of the candidate.


ii) Has duly been completed.
iii) Fulfills the requirement of the ordinance relating to the bachelor of technology
degree of the Rajasthan technical University and
iv) Is up to the desired standard for the purpose of which is submitted.

_______________ _______________
Dr. Sanjay Gaur Mrs. Madhu Choudhary
Head of Department Assistant Professor
Computer Science & Computer Science &
Engineering Engineering
JECRC, Jaipur JECRC, Jaipur

Place: Jaipur

Date: 17/11/2022

2
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

PREFACE

Bachelor of Technology in Computer Science & Engineering is the Rajasthan Technical


University course (Approved by AICTE) having duration of 4 years. As a prerequisite of
the syllabus every student on this course has to make a report on seminar lab in order to
complete his studies successfully. And it is required to submit the report on the
completion of it.

The main objective of this report is to create awareness regarding the application of
theories in the practical world of Computer Science & Engineering and to give a practical
exposure of the real world to the student.

I, therefore, submit this seminar report on “ Utilization Of Machine Learning Models In


Real Estate House Price Prediction”, which was undertaken at JECRC, Jaipur. I feel
great pleasure to present this seminar report.

3
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

VISION OF CSE DEPARTMENT

To become renowned Centre of excellence in computer science and engineering and


make competent engineers & professionals with high ethical values prepared for lifelong
learning.

MISSION OF CSE DEPARTMENT

1. To impart outcome based education for emerging technologies in the field of


computer science and engineering.
2. To provide opportunities for interaction between academia and industry.
3. To provide platform for lifelong learning by accepting the change in technologies
4. To develop aptitude of fulfilling social responsibilities.

4
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

PROGRAM OUTCOMES (POs)


1. Engineering knowledge: Apply the knowledge of mathematics, science, engineering
fundamentals, and Computer Science & Engineering specialization to the solution of
complex Computer Science & Engineering problems.

2. Problem analysis: Identify, formulate, research literature, and analyse complex


Computer Science and Engineering problems reaching substantiated conclusions using
first principles of mathematics, natural sciences, and engineering sciences.

3. Design/development of solutions: Design solutions for complex Computer Science


and Engineering problems and design system components or processes that meet the
specified needswith appropriate consideration for the public health and safety, and the
cultural, societal, andenvironmental considerations.

4. Conduct investigations of complex problems: Use research-based knowledge and


research methods including design of Computer Science and Engineering experiments,
analysis and interpretation of data, and synthesis of the information to provide valid
conclusions.

5. Modern tool usage: Create, select, and apply appropriate techniques, resources, and
modern engineering and IT tools including prediction and modeling to complex
Computer Science Engineering activities with an understanding of the limitations.

6. The engineer and society: Apply reasoning informed by the contextual knowledge to
assess societal, health, safety, legal and cultural issues and the consequent responsibilities
relevant to the professional Computer Science and Engineering practice.

5
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

7. Environment and sustainability: Understand the impact of the professional


Computer Science and Engineering solutions in societal and environmental contexts, and
demonstrate the knowledge of, and need for sustainable development.

8. Ethics: Apply ethical principles and commit to professional ethics and responsibilities
and norms of the Computer Science and Engineering practice.

9. Individual and team work: Function effectively as an individual, and as a member or


leader in diverse teams, and in multidisciplinary settings in Computer Science and
Engineering.

10. Communication: Communicate effectively on complex Computer Science and


Engineering activities with the engineering community and with society at large, such as,
being able to comprehend and write effective reports and design documentation, make
effective presentations, and give and receive clear instructions.

11. Project management and finance: Demonstrate knowledge and understanding of


the Computer Science and Engineering and management principles and apply these to
one’s own work, as a member and leader in a team, to manage projects and in
multidisciplinaryenvironments.

12. Life-long learning: Recognize the need for, and have the preparation and ability to
engage in independent and life-long learning in thebroadest context of technological
change in Computer Science and Engineering.

6
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

PROGRAM EDUCATIONAL OBJECTIVES (PEOs)

The PEOs of the B.Tech (CSE) program are:

1. To produce graduates who are able to apply computer engineering knowledge to


provide turn-key IT solutions to national and international organizations.
2. To produce graduates with the necessary background and technical skills to work
professionally in one or more of the areas like – IT solution design development
and implementation consisting of system design, network design, software design
and development, system implementation and management etc. Graduates would
be able to provide solutions through logical and analytical thinking.
3. To able graduates to design embedded systems for industrial applications.
4. To inculcate in graduates’ effective communication skills and team work skills to
enable them to work in multidisciplinary environment.

To prepare graduates for personal and professional success with commitment to their
ethical and social responsibilities.

7
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

PROGRAM SPECIFIC OUTCOMES (PSOs)

PSO1 Ability to interpret and analyze network specific, cyber security issues, automation in real
world environment.
PSO2 Ability to design and develop mobile and web-based applications under realistic
constraints.

COURSE OUTCOMES (COs)


On completion of seminar Graduates will be able to-
• CO-1: To identify and analyze latest technology and complex engineering
problems through research methodology in Computer Science & engineering.
• CO-2: To Explore and justify latest industrial trends.
• CO3: To develop Presentation skills, technical report writing, and professional
ethics for life-long learning

MAPPING: CO’s & PO’s


Subject Code Cos Program Outcomes (POs)

PO- PO- PO- PO- PO- PO- PO- PO- PO- PO- PO- PO-
1 2 3 4 5 6 7 8 9 10 11 12

3 3 3 2 2 2 1 1 2 2 2 3
CO-1
7CS7-40
3 3 3 3 3 2 1 1 3 2 2 3
CO-2
Seminar
3 3 3 2 2 2 2 2 3 3 3 3
CO-3

8
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

ACKNOWLEDGEMENT

“Any serious and lasting achievement or success, one can never achieve without the help,
guidance and co-operation of so many people involved in the work.”

It is my pleasant duty to express my profound gratitude and extreme regards and thanks
to Mr. Arpit Agarwal, Dr. V. K. Chandna and Dr. Sanjay Gaur whp gave me an
opportunity to take this seminar report.

I am indebted towards my supervisors who have allotted this seminar and his precious
time and advice during the period, which is imminent to the report.

I would like to express deep gratitude to Dr. Sanjay Gaur, Head of Department
(Computer Science & Engineering), Jaipur Engineering College & Research Centre,
Jaipur (Rajasthan) with whose support the seminar report has been made possible.

Last but not the least, I am heartily thankful to my friends and all those people who are
involved directly or indirectly in this seminar report for encouraging me whenever I
needed their help in spite of their busy schedule.

Dhruv Kumar Meena

19EJCCS714

9
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

ABSTRACT

Machine learning participate a significant role in every single area of technology as per
the today’s scenario. Even I can Say every phase of our lives is surrounded by the
implementation of new era technologies such as Hospitality management, Railway,
Transportation, Health care, Industry
And so on. Machine learning has been employed for many sectors since past decades like
image processing, pattern recognition, medical diagnosis, and predictive analysis, product
recommendation. House prices changes every year, so it is mandatory for a structure to
foresee house prices in the future. House price prediction can help in fixing and thereby
predicting house prices and customer can evaluate it. Our intension is to predict house
prices using several machine learning techniques. House price of particular location does
depends on various factors like lotsize, bedrooms, bathrooms, location, drawing room,
material used in house , interiors, parking area and mainly on square feet per area.
Our intension behind proposing this paper is to employ different machine learning
techniques for predicting the price based on these metrics. The algorithm used in this
analysis is Data refining, OLS regression, Classification,
Clustering, correlation matrix.

10
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Table of Content

S.no Content Page Number


Candidate’s Declaration 1
Bonafide Certificate 2
Preface 3
Vision and Mission 4
Program Outcomes (POs) 5
Program Education Objectives (PEOs) 7
Program Specific Outcomes (PSOs) 8
Course Outcomes (COs) 8
Mapping: COs and POs 8
Acknowledgement 9
Abstract 10
1. Introduction 13
1.1 How is it different from traditional 14
1.2 Why do we need Machine Learning?
programming? 14
1.3 How Does Machine Learning Work? 15
1.4 Types of Machine Learning 16
1.4.1 What is Supervised Learning? 17
1.4.2 What is Unsupervised Learning? 20
1.4.3 What is Reinforcement Learning? 21
2. Literature Review 22
3. Problem Identification And Data Collection 23
4. Machine Learning Technique For Building Model 23
4.1 Data Refining 24
4.2 OLS Regression 24
4.3 Classification 26

11
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

4.4 Clustering 27
3. Methodology And Results 28
4. Future Scope 33
5. Conclusion 34
6. References 35

Table Index

S.no Title Page Number


1 Price Factors 23
2 Cost Drivers 24
A comparison of machine learning house price
3 27
prediction
4 Features 28
5 OLS Regression Results 29

12
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Introduction

Arthur Samuel coined the term Machine Learning in the year 1959. He was a pioneer in
Artificial Intelligence and computer gaming, and defined Machine Learning as “Field of
study that gives computers the capability to learn without being explicitly programmed”.

In simple terms, Machine Learning is an application of Artificial Intelligence (AI) which


enables a program(software) to learn from the experiences and improve their self at a task
without being explicitly programmed. For example, how would you write a program that
can identify fruits based on their various properties, such as color, shape, size or any
other property?

One approach is to hardcode everything, make some rules and use them to identify the
fruits. This may seem the only way and work but one can never make perfect rules that
apply on all cases. This problem can be easily solved using machine learning without any
rules which makes it more robust and practical. You will see how we will use machine
learning to do this task in the coming sections

13
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Thus, we can say that Machine Learning is the study of making machines more human-
like in their behaviour and decision making by giving them the ability to learn with
minimum human intervention, i.e., no explicit programming. Now the question arises,
how can a program attain any experience and from where does it learn? The answer is
data. Data is also called the fuel for Machine Learning and we can safely say that there is
no machine learning without data.

How is it different from traditional programming?

Are you wondering how is Machine Learning different from traditional programming?
Well, in traditional programming, we would feed the input data and a well written and
tested program into a machine to generate output. When it comes to machine learning,
input data along with the output associated with the data is fed into the machine during
the learning phase, and it works out a program for itself.

Why do we need Machine Learning?

Machine Learning today has all the attention it needs. Machine Learning can automate
many tasks, especially the ones that only humans can perform with their innate
intelligence. Replicating this intelligence to machines can be achieved only with the help
of machine learning. With the help of Machine Learning, businesses can automate routine

14
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

tasks. It also helps in automating and quickly create models for data analysis. Various
industries depend on vast quantities of data to optimize their operations and make
intelligent decisions. Machine Learning helps in creating models that can process and
analyze large amounts of complex data to deliver accurate results. These models are
precise and scalable and function with less turnaround time. By building such precise
Machine Learning models, businesses can leverage profitable opportunities and avoid
unknown risks.

.Image recognition, text generation, and many other use-cases are finding applications in
the real world. This is increasing the scope for machine learning experts to shine as a
sought after professionals.

How Does Machine Learning Work?

A machine learning model learns from the historical data fed to it and then builds
prediction algorithms to predict the output for the new set of data the comes in as input to
the system. The accuracy of these models would depend on the quality and amount of
input data. A large amount of data will help build a better model which predicts the
output more accurately.

Suppose we have a complex problem at hand that requires to perform some predictions.
Now, instead of writing a code, this problem could be solved by feeding the given data to
generic machine learning algorithms. With the help of these algorithms, the machine will
develop logic and predict the output. Machine learning has transformed the way we
approach business and social problems. Below is a diagram that briefly explains the
working of a machine learning model/ algorithm. our way of thinking about the problem.

15
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Types of Machine Learning

Machine learning has been broadly categorized into three categories

Supervised Learning

Unsupervised Learning

Reinforcement Learning

16
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

What is Supervised Learning?

Let us start with an easy example, say you are teaching a kid to differentiate dogs from
cats. How would you do it?

You may show him/her a dog and say “here is a dog” and when you encounter a cat you
would point it out as a cat. When you show the kid enough dogs and cats, he may learn to
differentiate between them. If he is trained well, he may be able to recognize different
breeds of dogs which he hasn’t even seen.

Similarly, in Supervised Learning, we have two sets of variables. One is called the target
variable, or labels (the variable we want to predict) and features(variables that help us to
predict target variables). We show the program(model) the features and the label
associated with these features and then the program is able to find the underlying pattern
in the data. Take this example of the dataset where we want to predict the price of the
house given its size. The price which is a target variable depends upon the size which is a
feature.

Number of rooms Price

1 $100

3 $300

5 $500

17
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

In a real dataset, we will have a lot more rows and more than one features like size,
location, number of floors and many more.

Thus, we can say that the supervised learning model has a set of input variables (x), and
an output variable (y). An algorithm identifies the mapping function between the input
and output variables. The relationship is y = f(x).

The learning is monitored or supervised in the sense that we already know the output and
the algorithm are corrected each time to optimize its results. The algorithm is trained over
the data set and amended until it achieves an acceptable level of performance.

We can group the supervised learning problems as:

18
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Regression problems – Used to predict future values and the model is trained with the
historical data. E.g., Predicting the future price of a house.

Classification problems – Various labels train the algorithm to identify items within a
specific category. E.g., Dog or cat( as mentioned in the above example), Apple or an
orange, Beer or wine or water.

19
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

What is Unsupervised Learning?

This approach is the one where we have no target variables, and we have only the input
variable(features) at hand. The algorithm learns by itself and discovers an impressive
structure in the data.

The goal is to decipher the underlying distribution in the data to gain more knowledge
about the data.

We can group the unsupervised learning problems as:

Clustering: This means bundling the input variables with the same characteristics
together. E.g., grouping users based on search history

Association: Here, we discover the rules that govern meaningful associations among the
data set. E.g., People who watch ‘X’ will also watch ‘Y’.

20
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

What is Reinforcement Learning?

In this approach, machine learning models are trained to make a series of decisions based
on the rewards and feedback they receive for their actions. The machine learns to achieve
a goal in complex and uncertain situations and is rewarded each time it achieves it during
the learning period.

Reinforcement learning is different from supervised learning in the sense that there is no
answer available, so the reinforcement agent decides the steps to perform a task. The
machine learns from its own experiences when there is no training data set present.

In this tutorial, we are going to mainly focus on Supervised Learning and Unsupervised
learning as these are quite easy to understand and implement.

21
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

LITERATURE REVIEW

In our literature survey we have investigated various researches on this particular domain
some of them are as follows:- Author Vargas and Silva showed a comparative study
about lodging cost are considered as a main pillar in the grit of the business sector. When
the bangs and all other attributes when increase in lodging division such as development
and work then these must have a balance with accumulation method, and thus resulting
the cost and value of house increasing upwards. Consequently, all these are collaborated
and result in withdrawal phase, drop in the private money cause the interest rate of house
increase drastically. By the perceived the house cost based on these model influence the
cost of house in real life and householders are pressurized to diminish their actual hose
cost. The total agreement will only be possible to achieve when the declination in rate
will compliment the bargain value of the house. Moreover, throughout withdrawal and
subsidence factual house costs fall quickly Likewise general inflationary patterns reduces
the accurate house costs much with closed perceived costs. The land costs are predicted
with a new set of factors with a different method. Also we predicted the reimbursement
for the agreement of the property. Mathematical relationships help us to understand many
portions of everyday life. When such relationships are communicated with exact
numbers, we gain additional clearness Regression is concerned with specifying the
relationship between a solitary numeric dependent variable and one or more numeric
independent variables. House prices have tendency to increase very year So there must be
a concrete way of predicting the price effectively. House price prediction helps the
developer forecast the house price on a genuine cost range and clients too to manage to
buy house when needed.

22
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

PROBLEM IDENTIFICATION AND DATA COLLECTION

For our research we have collected data for real estate from Ranchi capital of Jharkhand
.we have employed data and These metrics of real estate of Ranchi zone, various factor
Like lot size, bedrooms, bathrooms, location, drawing room, Material used in house,
interiors, parking area and mainly On square feet per area. Further use these data for
building Data model for predicting the house price after data Analysis. We gathered the
real estate data from every zone and sub divisional area of Ranchi, Jharkhand. These are
the labeled and structured data set presentation.

MACHINE LEARNING TECHNIQUE FOR BUILDING MODEL

23
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

DATA REFINING

Data refinery brings wide-ranging multifaceted events processing functionality that make
sure that incident data is quickly and efficiently donate to use, to advance business
routine and customer experience. Data refinery participate an imperative role in
supporting the digital customer journey. It provides a cover of intellectual fast data to
facilitate real-time decisions and actions. It gathers, unifies and refines data from
numerous sources into valuable inputs from multiple sources.

OLS REGRESSION

This process minimizes the sum of squared perpendicular distances between the observed
responses in the dataset and the responses predicted by the linear rough calculation The
resulting estimator can be expressed by a straightforward formula, especially in the case
of a single repressor on the right-hand side. Linear regression is often used to foresee

24
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

outputs clue for new samples. This enables the organizations to distinguish the value of
the model and for the prediction before they go further on and use it for predictive use.

25
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

CLASSIFICATION

Classification is a type of supervised learning. It specifies the group to which data


elements fit in to and is best used when the output has predetermined and separate values.
It calculates a division for an input variable as well. Classification is a progression of
categorizing a specified set of data into classes; it can be performed on both structured
and unstructured data. The procedure starts with predicting the class of given data points.
The classes are often referred to as objective, label or categories. The classification
predictive modeling is the job of approximating the mapping purpose from input
variables to separate output variables. The major purpose is to recognize which
class/category the new data will fall into.

26
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

CLUSTERING

Clustering can be defined as it is having task of separating the occupiers or data points
into group of numbers such that data points in the corresponding groups are more as good
as to other data points in the identical group than those in other groups. In simple words,
the intension is to separate out the groups with related traits and allocate them into
clusters.

27
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

V. METHODOLOGY & RESULTS

Dataset that which is employed in this technique is taken from the list of real estate house
price list based on the several locations of Ranchi zone. As the scope of this paper to
predict the house cost thus for the sake of algorithm several metrics are used as for
feature extraction and these variables are called feature data set. Table 4 shows the
combination of different set of features which are used to build prediction model. This
proposed approach comprises 19 different attribute or feature set as autonomous variables
for predicting house prices. Features selection is an imperative footstep of machine
learning prediction. In this paper, features selection is divided into four groups. First
collection used all the self determining parameters in the training dataset. It is a blend of
variables with very weak, weak and strong relationships on the related variable sale price.
In this paper, the point of association is defined as Strong if the coefficient correlation
value is between some range and astute if the value is between ( 0.3 to 0.5). Otherwise,
weak level is between (0.2 to 0.29) and very weak level is between 0.1 to 1.

28
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Regression uses random smallest amount squares technique to the modified data for
precise prediction of house prices based on the refined dataset variables.

The regression coefficient represented by coef in the fig shows the change in the
dependent variable “house price” resulting from one unit change in the particular
variable, all other variables being held constant

29
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

As a result the location of the house, along with the amenities are highly influenced.

30
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Subsequently, the variables and their correlation matrix are described below:-

Only the purchasing cost variable is found to have a strapping connection with the selling
prices with coefficient value 0.73, as presented in the following

31
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

32
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

Future Scope

Future work can be undertaken by the real estate market analyzers to further train the
proposed algorithm or to design better ML predictors for home sale price. Datasets
particularities differ from one region to another, so future studies may come up with
specific solutions based on the dataset features extracted through region
characteristics analysis. Nevertheless, prediction models as designed and trained work
for periods of relative market calm. As experienced in 2020, worldwide events, such as
viral outbreaks, can end abruptly periods of market calm. From this point of view, a clear
research direction is to build ML models that can account for disruptive events. These
models should be designed and trained to provide scenarios of the market outcome in
the case of such disruptive events. All the stakeholders listed above would clearly
benefit from market prediction models for regional or worldwide disruptive scenarios.

33
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

CONCLUSION

Taking the data set for houses and considering its various attributes, the prices for houses
have been predicted by employing machine learning methods of regression for predicting
the price of ESTATE USING RIOR DATA, AND CLUSTERING FOR INSPECRING
THE QUALITY OF THE SOLUTION OR OUTPUT. Ml driven predictions are easily
comprehensible and significant from a data analysis of point. When correctly
implemented a high rate of accuracy can be achieved, and thus ML techniques find
applications across a wide range of fields.

34
Jaipur Engineering College and Research
Academic Year- 2022-2023
Centre, Shri Ram ki Nangal, via Sitapura
RIICO Jaipur- 302 022.

REFERENCES

[1] G. Naga Satish, Ch. V. Raghavendran, M.D.Sugnana Rao, Ch.Srinivasulu”House


Price Prediction Using Machine Learning” International Journal of Innovative
Technology and Exploring Engineering (IJITEE) ISSN: 2278-3075, Volume-8 Issue-9,
July 2019

[2] Bruno Klaus de Aquino Afonso1 , Luckeciano Carvalho Melo2 , Willian Dihanster
Gomes de Oliveira1 , Samuel Bruno da Silva Sousa1 , Lilian Berton1 “Housing Prices
Prediction with a Deep Learning and Random Forest
Ensemble”1https://www.kaggle.com/c/data-sciencechallenge-at-eef-2019/

[3] Ayush Varma ; Abhijit Sarma ; Sagar Doshi ; Rohini Nair” House Price Prediction
Using Machine Learning and Neural Networks” 2018 Second International Conference
on Inventive Communication and Computational Technologies (ICICCT)

[4] www.google.com

[5]https://www.sciencedirect.com/science/article/abs/pii/S0030402613012515?via%3Dih
ub

[6] https://www.turcomat.org/index.php/turkbilmat/article/download/6435/5333

35

You might also like