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The victorious team, which returned to the country on Thursday morning, will take part in an open bus road show followed by a felicitation ceremony at the Wankhede Stadium in south Mumbai.
The victory procession will be held between 5 and 7 pm from Nariman Point to the Wankhede Stadium, the official said on Wednesday.
As a large number of people are expected to gather for the event, police are taking utmost precaution to avoid any untoward incident, he said.
Adequate security is being deployed at the Marine Drive between Nariman Point and Wankhede Stadium, the official said.
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The departure of the Indian squad from Barbados was delayed due to Hurricane Beryl.
“The team will meet Prime Minister Narendra Modi at 11 am at his residence. After this, the team will fly to Mumbai, where a ceremony has been organised,” BCCI vice-president Rajeev Shukla told PTI.
“There will be a road show from Nariman Point in an open bus and later we will honour and felicitate the players with the prize money of Rs 125 crore as announced,” he added.
The squad on Saturday won the country its second T20 world title, ending an 11-year wait for an ICC trophy. India’s previous ICC title was in 2013 when it won the Champions Trophy under Mahendra Singh Dhoni.