House Price Prediction System for Bengaluru City

In recent years, Karnataka, one of the hotspots for real estate development, has seen an increase in demand from potential home buyers and investors, and is expected to witness a further boom in the sector by 2020. What are the things that a potential home buyer considers before purchasing a house? The location, the size of the property, vicinity to offices, schools, parks, restaurants, hospitals or the stereotypical white picket fence? What about the most important factor — the price? Now with the lingering impact of COVID-19, the enforcement of the Real Estate (Regulation and Development) Act (RERA), and the lack of trust in property developers in the city, housing units sold across India in 2019 dropped by 3 per cent. In fact, the property prices in Bengaluru fell by almost 5 per cent in the second half of 2019, said a study published by property consultancy Knight Frank. Buying a home, especially in a city like Bengaluru, is a tricky choice. While the major factors are usually the same for all metros, there are others to be considered for the Silicon Valley of India. With its help millennial crowd, vibrant culture, great climate and a slew of job opportunities, it is difficult to ascertain the price of a house in Bengaluru. This paper reflects the effort towards solving the problems mentioned. In this paper, the authors have tried to create such a system which will in turn, give a very accurate prediction about the prices of the house in the city of Bengaluru. The authors have tried to create a user friendly interface design which will enable the users to choose their options as per their requirements and get the estimated price of the house according to their needs.