Machine Learning Based House Price Forecasting

Year : 2024 | Volume :14 | Issue : 01 | Page : 5-11
By

Santushti Betgeri

Dimple Thakar

Monisha Mohan

  1. Assistant Professor Department of Computer Engineering, Marwadi University, Rajkot Gujarat India
  2. Assistant Professor Department of Computer Applications, Marwadi University, Rajkot Gujarat India
  3. Assistant Professor Department of Computer Engineering, Marwadi University, Rajkot Gujarat India

Abstract

This research endeavours to craft a predictive model leveraging machine learning to estimate the market value of houses in Delhi. By integrating Python and its powerful libraries, pandas for data processing, Plot for interactive visualizations, scikit-learn for implementing machine learning algorithms, XGBoost for boosting the model’s prediction accuracy, and to evaluate the model’s performance cross-validation techniques are used. An interactive user interface is created using a Flask web application to enter characteristics of a house and according to that application will forecast the price of house. This project sets out to equip users with a dynamic tool for determining house prices based on essential property attributes. The initiative underscores the potential of machine learning technologies in transforming the real estate sector by enabling more precise property valuation, enhancing market analysis, and bolstering investment and risk assessment strategies. Through the application of sophisticated data analysis and predictive modelling techniques, the project aims to provide valuable insights for real estate professionals, investors, and analysts, facilitating informed decision-making and fostering profitable investment opportunities.

Keywords: Statistical models, XGBoost model, statistical models, data analytics, risk assessment

[This article belongs to Current Trends in Information Technology(ctit)]

How to cite this article: Santushti Betgeri, Dimple Thakar, Monisha Mohan. Machine Learning Based House Price Forecasting. Current Trends in Information Technology. 2024; 14(01):5-11.
How to cite this URL: Santushti Betgeri, Dimple Thakar, Monisha Mohan. Machine Learning Based House Price Forecasting. Current Trends in Information Technology. 2024; 14(01):5-11. Available from: https://journals.stmjournals.com/ctit/article=2024/view=138297




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Regular Issue Subscription Review Article
Volume 14
Issue 01
Received March 1, 2024
Accepted March 12, 2024
Published April 3, 2024