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Dharmendra's "Yamla Pagla Deewana Phir Se", which was due to release on August 15, will now open on August 31.
The third installment of the "Yamla Pagla Deewana" franchise also stars Sunny Deol and Bobby Deol.
Sunny explained the shift in release date in a statement.
He said the date was moved "since August 15 has two patriotic films 'Gold' and 'Satyamev Jayate' which are typical for the day and on August 24 we have our family friend Anil Sharma's son being launched. He has our blessings".
"Our film is a wholesome family entertainer, hence we have decided to release our film YPD Phir Se two weeks later on August 31," Sunny added.
The first installment, starring the Dharmendra and his two sons, was a hit. Its sequel released in 2013 but it tanked at the box office.
In an earlier interview to IANS, Dharmendra had said that "Yamla Pagla Deewana 3" will be "very good".