International Research Journal of Engineering and Technology (IRJET) e-ISSN: 2395-0056 Volume: 06 Issue: 06 | June 2019 www.irjet.net p-ISSN: 2395-0072 © 2019, IRJET | Impact Factor value: 7.211 | ISO 9001:2008 Certified Journal | Page 3041 VALUATION OF REAL ESTATE IN KARAD CITY Priyanka Dipak 1 , Dr. N. B. Chaphalkar 2 , Dr. Sayali Sandbhor 3 1 PG Scholar (M.Tech –Construction Management), Government College of Engineering, Karad, Maharashtra, India 2 Professor of civil Engineering Department, Government College of Engineering, Karad, Maharashtra, India 3 Dr. Sayali Sandbhor, Professor of civil Engineering Department, Symboisis Institute of Technology, Government College of Engineering, Karad, Maharashtra, India --------------------------------------------------------------------------***----------------------------------------------------------------------- Abstract:- The valuation of real estate is expected when calculating the market value of a property according to its qualitative characteristics. Based on the basic needs of human housing, real estate prices increase day by day as the population increases. However, predicting the approximate rate will be a very complex problem. Since then, all states have many different characteristics due to the location and use of it. Therefore, the calculation of the exact valuation of any property is becoming a prerequisite. The participation of capital in the real estate market, there is a requirement of accurate valuation of a property that can be achieved by using a fuzzy logic technique. From this project I can study about the valuation of residential properties in Karad. The main objective of this study is to develop a model that uses fuzzy logic for the prediction of the residential property rate. This study would help property investors buy or sell their properties at a precise rate. Keywords-Real estate, valuation method, fuzzy logic. 1. Introduction- The real estate sector is one of the most recognized sectors worldwide. The real estate sector comprises four sub-sectors: residential, semi-commercial and commercial. The growth of this sector is complemented by the growth of the corporate environment and the demand for office space, as well as urban and semi-urban housing. The construction industry ranks third among the 14 main sectors in terms of direct, indirect and induced effects in all sectors of the economy. The real estate sector in India is expected to reach a market size of US $ 1 trillion in US $ 1 trillion by 2030 from US $ 120 billion in 2017 and contribute with 13 percent of the country's GDP by 2025. They are also growing significantly, providing the much-needed infrastructure for India's growing needs. The stock of commercial offices in India is expected to cross 600 million square feet by the end of 2018, while the lease of offices in the eight best cities crosses 100 million square feet during 2018-2019. Gross absorption of offices in the main cities of India increased 26% year-on-year to 36.4 million square feet between January and September 2018. The joint workspace in the seven major cities increased considerably in 2018 (through September), until reaching 3.44 million square feet, compared to 1.11 million square feet for the same period in 2017. The valuation of real estate is the task of evaluating the potential price of a site or building in the case of a sale. These evaluations are important for investment decisions, real estate funds and project developments. 1.1Need of the Study In the real estate markets, the offer represents the amount of properties available for sale or lease, and the demand establishes the number of potential purchasers or tenants looking for specific types of properties at different prices in a market within a period of time. The market value is the most likely price that the property would obtain if it were sold in a competitive market. It is affected by factors such as the buyer and the seller, each typically motivated and acting with knowledge, acting in their best interest, the price is not affected by undue motivation, adequate marketing efforts and a reasonable time allowed for the Short exposure In the market, the price represents the normal consideration for the property sold, not affected by the special or creative financing or the sale concessions granted by any person associated with the sale. Asset markets have played an increasingly important role in many economies. Therefore, policymakers are increasingly aware of the fact that considerable changes and significant periodic corrections in asset prices can generate financial instability and, ultimately, macroeconomic instability. No market is continuously in equilibrium, therefore, prices and values differ from time to time. The real estate market is characterized by cycles of prosperous and smashed. These explosions or foams are sudden increases in prices not justified by the fundamentals.