The warship, which has been in service for over 60 years, is now on its farewell journey and it will be developed into a tourist centre, with 1,500 rooms to stay in, the sources said.
Tourists can stay on board the warship in the sea and also take part in activities like yachting, gliding and cruising, the sources said.
INS Viraat was commissioned by the Indian Navy in 1987, after it bought the ship from the British Navy that used it for 30 years.
The Indian Navy had earlier turned down a proposal to convert the warship, which can carry up to 26 fighter jets and helicopters, into a museum. Enditem