FIDE President Kirsan Ilyumzhinov announced the schedule at a press conference, saying that the budget for the event has been set at USD three million.
The match will be played at the Olympic Village in Sochi.
Both players have agreed with this plan, the 'ITAR-TASS' news agency reported.
Russian Chess Federation President Andrei Filatov has also confirmed that the body will participate in the organisation of the event.
Carlsen became the world champion last November by defeating Anand in Chennai.
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