Considering the extent of money involved in real estate, there is a need of accurate prediction of value of a property which can be achieved through application of some artificial intelligence technique. This study mainly focuses on case study of Pune city in India and tries to predict value of commercial properties in the study area. The prime aim of the present investigation is to study the ascertaining value of property using neural networks. The results show 99% correlation coefficient for selected combination of cases with a high percentage rate of prediction. This study would help the prospective buyer to make the best buying decision so as to gain maximum returns in future.