Now the Olympic baton is passed on to London

The Red Arrows will perform a flypast over the capital, as they did when it was announced that London had won the Games.

Handover flags will go up in Downing Street, on HMS Belfast, at Twickenham, on Unst - the northernmost point of the British Isles - and at Land's End.

Each London borough is holding a flag-raising ceremony and there will be street parties, processions and festivals-The banners will go up at about 3pm on Sunday as Mayor Boris Johnson is handed the Olympic flag by Beijing Mayor Guo Jinlong at the closing ceremony of the 2008 Games.

It is expected that he will be watched by some 1.6 billion people worldwide as, joined by David Beckham, Leona Lewis and Led Zeppelin's Jimmy Page, he rides into the Bird's Nest stadium in a double-decker London bus.

London 2012 Organising Committee chairman Sebastian Coe said: "When the Mayor accepts the Olympic flag on 24 August, the eyes of the world will turn to London and the UK.

"It is a very exciting moment for us, and we want as many people as possible to join in the celebrations. We are delighted that so many local authorities share our excitement and are proudly displaying the handover flag to mark this very special moment on our journey to 2012."

As the flags are raised, 40,000 people will gather in the Mall for the Visa London 2012 Party. They will be entertained by artists including The Feeling, Il Divo, Katherine Jenkins, McFly, Will Young, James Morrison and Scouting For Girls.

Among those attending will be swimmer Michael Phelps, who won eight gold medals in Beijing and is stopping off on his way home to America.

The celebrations will be broadcast on BBC1 and BBC Radio 2 as well as on a giant screen in Trafalgar Square and in Emslie Horniman's Pleasance near Ladbroke Grove, so those at Notting Hill Carnival can watch proceedings.

There will also be screens in Canary Wharf, the London Piazza outside the O2, and Shoreditch Park.

A 1948 street party will be held in Hoxton Street to commemorate the last time London hosted the Olympics, with bunting and people in vintage costumes. Leona Lewis, who lives in Hackney, will broadcast a special message for those in her home borough.

People watching in Walthamstow and Greenwich will take part in a mass singalong following the handover.

The Sing The Nation event, taking place across Britain, will feature songs connected to each region, such as Maybe It's Because I'm A Londoner, Danny Boy in Northern Ireland, and I Do Like To Be Beside The Seaside in Blackpool.

Chris White, chairman of the Local Government Association's culture, tourism and sport board, said: "While the Games in 2012 are happening in London, it's clear there's strong support throughout the country.

"Authorities are already investing in sports facilities and promoting healthier living to ensure the legacy of the Olympic Games will be longlasting.

"This is a once-in-a-lifetime chance for every part of the country to enjoy a boom in business, tourism and sporting excellence, and councils are ready to seize the opportunity."