Already most of the temporary structures have been removed in the six weeks since the Paralympics closing ceremony.

The handover comes as minsiters revealed  a £480m surplus in the government Olympic budget from savings and unspent contingency.

The latest figures suggest the final Olympics bill will be just under £9bn from a budget of £9.3bn, with most venues below budget except the Olympic village where costs rose £36m to almost £750m.

The Legacy Corporation will now formally begin work to transform the park into a new part of London, to be known as Queen Elizabeth Olympic Park, through a £292m construction project.

The Aquatics Centre, the Velodrome and the Basketball Arena have now been handed over to LLDC, the Copper Box will be handed over in November and the Olympic Stadium and Press and Broadcast Centres will be handed over in December.

Meanwhile, LOCOG is also preparing to hand over the Olympic Village to the Olympic Delivery Authority so that a large-scale retrofitting programme can begin, transforming the 2,818 apartments and houses into East Village – a new community for London from 2013 onwards.

Seb Coe, LOCOG Chair, said: “We have now begun the first chapter of the lasting legacy we promised when we bid for the Games.

“We began our work straight after the Games to transform the venues, parklands and facilities in the Olympic Park to ensure generations to come will benefit from a golden summer.  I congratulate my team for taking out all the temporary structures so quickly so that the job of transformation continues quickly.”