Though Advani is expected to make his announcement on Dec 21, he may call it quits on Dec 18 if the parliament is adjourned in sine die on that particular day.
However, Advani could take charge as the Chairman of BJP Parliamentary Party.
Sushma Swaraj, deputy leader of BJP in Lok Sabha is likely to succeed Advani, while Ananth Kumar, Gopinath Munde and Shahnawaz Hussain will be the contenders for deputy leader.
Meanwhile, Rajnath Singh will resign as the party president on Dec 19. He will be succeeded by Maharashtra BJP leader Nitin Gadkari.
The change of leadership is predicted to be the outcome of the Rashtriya Swayamsewak Sangh (RSS) suggestion of bringing young leadership into the party in the wake of the party's shameful lost in the Lok Sabha elections.