The state government has announced a special recovery drive against defaulting builders which could give major relief to thousands of homebuyers awaiting refunds. The move comes after it was observed that the Maharashtra Real Estate Regulatory Authority (MahaRERA) has recovered only 34 per cent of the total Rs 792 crore recovery dues from errant developers.

In his reply in the Assembly on Thursday, on behalf of Urban Development Minister Eknath Shinde, Cabinet Minister Shambhuraj Desai assured that the recovery process would be expedited and stricter action would be taken against defaulters.