The long wait is finally over. Release date for the Xbox One and PS4 version of "Grand Theft Auto V" has been set for this November with the PC release delayed until January.

The popular game series by Rockstar Games, Grand Theft Auto V, is hitting the next-generation consoles later this year. The announcement puts an end to the long anticipation for the game. The developer of the open-world action title revealed the launch dates on Friday, confirming that GTA V will be available on PS4 and Xbox One consoles starting Nov. 18.

The timing of the release is perfect for those who want the game before the holidays. Sadly, the PC version of the game will be pushed until after the holidays, to be released Jan. 27, 2015.

Gamers will have a lot to look forward to in the new release on PS4, Xbox One and PC.GTA V will feature major visual and technical upgrades, new weapons, new activities, denser traffic around Los Santos along with more than 100 new songs to play while driving, according to the official press release. In addition, the GTA Online will feature some improvements, such as increased player count from 16 to 30 and the ability to transfer the online game from PS3 and Xbox 360 to the upgraded next-gen console or PC.

For those who upgrade from PS3 or Xbox 360 to new consoles will receive additional perks of choosing vintage vehicles from the GTA series, including the Dukes, the Dodo Seaplane and a blimp, as reported by Rockstar Games.

GTA V first came out in September last year on previous generation consoles. It was well-received among gamers and critics and garnered more than $800 million in revenue worldwide within 24 hours. In a matter of just six weeks, the game sold 29 million copies and became the first title to reach fastest the $1 billion mark in revenue, CNET reported.

The Grand Theft Auto V for PS4 and Xbox One consoles is available for pre-orders from the company's online store and various retailers. Additionally, players receive in-game cash bonus up to $1 million to spend in Story mode and GTA Online with pre-order purchases.