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 real estate 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.