International Journal For Multidisciplinary Research

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BLOCK ESTATE

Author(s) Mr. BADADHE VISHAL SHIVAJI, Mr. VENKATESH R. IYER, Mr. SAMI SHAIKH, Prof. ARUN GHANDAT
Country India
Abstract The real estate sector grapples with the persistent
issues of inconsistent property appraisals, a lack of transparency
in valuation methodologies, and a reliance on outdated pricing
frameworks. This project introduces an innovative solution:
a distributed ledger-based real estate valuation system. This
system leverages self-executing digital agreements and spatial
data analytics to deliver dynamic, transparent, and data-driven
property assessments. By incorporating OpenStreetMap APIs,
the system automates the acquisition of real-time data pertaining
to proximate community resources, such as educational
institutions, healthcare facilities, recreational spaces, and public
transit networks. A weighted valuation algorithm processes this
information to derive a contextual relevance score, quantifying
the spatial influence and impact of these factors on property
values. The computed scores, along with pertinent property details,
are securely stored and managed on the Ethereum network
via smart contracts, ensuring data integrity, immutability, and
enhanced stakeholder trust. Furthermore, the system automates
the entire valuation workflow through a Python-based backend,
which serves as an intermediary between distributed ledger
interactions and spatial data acquisition. Designed for scalability,
transparency, and operational efficiency, this project aims to
modernize conventional property valuation practices by addressing
inherent inefficiencies and empowering stakeholders with
access to reliable, up-to-the-minute valuation data. By redefining
the paradigm of property value assessment, this system offers
a transformative approach to real estate pricing, harmonizing
cutting-edge distributed ledger technology with advanced spatial
data analysis.
Keywords Distributed Ledger Technology, Real Estate, Autonomous Agreements, Spatial Data Analytics, OpenStreetMap, Property Valuation, Adaptive Pricing, Transparency, Automation.
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-05-17
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.45055
Short DOI https://doi.org/g9kf74
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