Section 15: changing the promoter without losing the obligation record

What approvals does a majority-rights transfer require?

Section 15 restricts transfer or assignment of majority project rights and liabilities to a third party without prior written consent of two-thirds of allottees, excluding the promoter, and prior written Authority approval. Analyse the actual structure and statutory counting explanation; a list of units is not necessarily the correct allottee denominator.

Disclose the incoming promoter, transfer terms, funding, remaining work and obligations clearly. Multiple bookings and connected-person treatment require careful counting. Consent collection should be tied to the version of the transaction actually proposed.

Does the incoming promoter receive a fresh completion clock?

Section 15(2) requires the intending promoter to independently comply with pending obligations under the Act, rules, regulations and sale agreements. It states that the transfer does not result in extension of the completion period. A transfer agreement should therefore not imply that existing buyer commitments disappear or restart automatically.

After approval, track its conditions, document handover, account changes and public disclosures. Preserve pre-transfer records for audit and disputes. Approval is not promised, and contractual allocations between promoters do not necessarily remove statutory duties.

Official sources

• RERA Act, Section 15 and its explanation
• MahaRERA change-of-promoter information

Read change-of-promoter support and supplemental agreements.

Editorial source check: 2026-10-24. Owner-approved for publication. No independent professional legal review or named professional authorship is claimed. “Last reviewed” records an editorial update, not legal sign-off. Check applicable amendments, orders and case-specific law before reliance.

General information, not legal advice. Authorship and review policy.