Trend analysis of the Land Price at Bengaluru Metropolitan Area in India

Trend analysis of the Land Price at Bengaluru Metropolitan Area in India
Author(s):
V.Sampathkumar, J.Vanjinathan
Keywords:
Economical factors, land price forecast Modeling of land price, Model validation
Abstract
This paper focuses on the modeling and forecasting of land price in Bengaluru Metropolitan Area, Karnataka, India using multiple regression and neural network techniques. Six locations spread over Bengaluru Metropolitan Area are selected at random as study area. The monthly average values of the selected factors from the year 2001 to 2015 are considered to develop the models. Both multiple regression and neural network models are validated with the market price in the year 2014 and 2015. After validation the models are used to forecast the land price in Bengaluru Metropolitan Area for the years 2016 and 2020. Both the models are found to be well fit for the modeling of land price; however the model using neural network shows better accuracy than regression technique.
Article Details
Unique Paper ID: 153350 Publication Volume & Issue: Volume 8, Issue 6 Page(s): 517 - 524
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