No regular protocol will be practiced, the sources said.
Russian Federation carries out cooperation with some 100 countries in military and technical sectors, Kozhin added.
The aim of the informal summit is to use the friendship and trust between the two countries to create convergence on key global and regional issues, the sources said. Iran is the third largest supplier of crude oil to India after Saudi Arabia and Iraq.
The US had imposed sanctions on Russian Federation earlier this year under CAATSA for its military intervention in Ukraine and alleged meddling in the 2016 US Presidential elections.
He said the two also discussed economic cooperation and growing investments by Russian companies in Syria.
They said President Putin will to also host a lunch for Modi.
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"Context of the meeting is in line with Prime Minister Modi's emphasis on wider engagements with various world leaders in addition to the formal state visits", the source said adding, "Prime Minister attaches importance in developing this means of (informal and personal rapport) diplomacy as a means of strengthening relationship".
The visit comes on the eve of a meeting in Sochi between Mr Putin and German Chancellor Angela Merkel, the first face-to-face talk of the year between the veteran leaders.
"Thanks to military successes, we are managing to normalise the situation in the country, opening the way for the return of many of our compatriots".
Both leaders to also exchange views on their domestic priorities like the developmental works being carried out in Russian Federation by President Putin while India can raise Prime Minister's projects like "Make in India".
According to the statement, the summit is taking place at the invitation of Putin.
Data from India's Ministry of Commerce shows that last year, the bilateral trade witnessed a 21.4% jump year-on-year and reached $9.4 billion.