Transfer of project to a third party

Transfer of majority rights and liabilities requires prior written consent of two-thirds of allottees and the Authority, without extending the original com

Finin2min summary

Transfer of majority rights and liabilities requires prior written consent of two-thirds of allottees and the Authority, without extending the original completion commitment automatically.

Source review date: 4 July 2026. Read with the official text and the facts of the transaction.

Legal anchors

Section 15
State authority procedure

How to analyse it

Define transaction and rights transferred.
Exclude promoter-held apartments in consent count.
Prepare continuity and funding plan.
Secure authority order before transfer.

Practical illustration

An asset sale transfers development rights and control to a new developer. Corporate form does not remove Section 15 analysis.

What can go wrong?

Closing before approval
Assuming shareholder change is always outside RERA
No handover of records and account

Evidence pack

Transaction documents
Allottee consent
Funding plan
Handover checklist

Decision workflow

Freeze the facts and effective date.
Identify the controlling Act, rule, notification, circular and jurisdictional overlay.
Prepare a calculation or exposure note.
Collect the evidence pack before filing, payment, signing or response.
Record reviewer conclusion and assumptions.

Quick Q&A

Is the result automatic?

No. Define transaction and rights transferred.

What is the most important control?

Secure authority order before transfer.

What should be escalated?

Closing before approval, especially where money, deadlines, enforcement, personal liability or irreversible transaction steps are involved.

Official source trail

Secondary commentary may help interpretation, but it is not the source of law.