Comprehensive Analysis of Housing Price Prediction in Pune Using Multi-Featured Random Forest Approach

The housing sector in India has been predicted to grow at 30-35% over the next decade. In terms of employment provided, it is second only to the agricultural sector. Housing is one of the major domain of real estate. Pune is emerging as one of the major metropolitan cities of India and has many prestigious Educational institutions and IT parks. This makes it an ideal place to buy homes. Vagueness among the prices of houses makes it challenging for the buyer to select their dream house. The interests of both buyer and seller should be satisfied so that they do not overestimate or underestimate price. This housing price prediction model acts as a helping hand for buyer and seller or a real estate agent to make a better-informed decision. To achieve this, diverse features are selected as input from feature set and various algorithms are applied such as Random Forest and Decision Tree.