The real estate market in Raipur has been encouraging ever since the city was announced as the capital of the newly-formed Chhattisgarh. The city is growing rapidly and there are a plethora of real estate development activities. Development authorities have done remarkably well in shaping up the city and giving it a platform to work on. Several local developers have significantly contributed to the real estate growth in the city. Residential townships, corporate spaces, huge shopping malls, an IT Park and a regional trade center are among the developments occurring in the city. Housing Board has been very proactive in building residential properties in Raipur.