I want to create a new id column for a real estate dataset. The data is about land ownership titles in the UK. Each observations is a property "unit" that has its own postbox. I only collect units that are owned by companies.
I want the new id column to be a "speaking id", meaning that it should reveal the most important info about the observation, while at the same time being concise and obviously unique. It should then be a composite key.
What columns should I include? What are some best practices for this kind of task (specifically for real estate data)?
Right now my main columns are the following: date (when company became proprietor of the land title), company's name, street, street number, locality, district, title number (alpha-numeric code as reported in the original data source).
I haven't found best practices for this kind of task, only a couple of examples. For US real estate data, one website suggested creating a composite id with the following info: Country, State (FIPS), County (FIPS), Subcounty (FIPS), Parcel Number, Property Type, Sub Property.
I am working in R but I think this issue might be more common for sql users.