The cremation rituals will begin at Putney Vale Cemetery and Crematorium in London around 11.40 am on Saturday.
After the funeral, a memorial service will take place at around 2 pm at the Bharatiya Vidya Bhavan at Kensington in west London.
The actor's wife Mona, daughter Devina and granddaughter reached London on Wednesday evening.
Earlier, the Government of India offered Dev Anand's family to fly his body from London to Mumbai for his last rites.
Mohan Chudiwala, a close associate of Dev Anand, told Time Of India, "Devsaab's funeral will take place at Putney Wales in south London. At about 2 pm, there is a condolence meeting at Bharatiya Vidya Bhavan in West Kensington."
"Since the family will only be able to collect his ashes after 48 hours, Dev Saab's son Suniel will return to India only on Monday after which he will address the media at Mehboob Studios, " he said.
Dev Anand passed away in a London hotel earlier this Sunday succumbing to a massive cardiac arrest.
He was 88 years young when the end came.