Music
The group, who rose to fame with debut album Showbiz in 1999, will perform at the beachside resort on September 4 and 5.
"It is something we have wanted to do for a long time. It is not a money-making exercise. We want to give something back to the community," Matt Bellamy told Radio 1 Newsbeat.
Speculation about the homecoming dates started last week when concert organisers SJM applied to Teignbridge Council for a licence to hold a "music concert".
Tickets are restricted to four per person and are available from 9am on August 21.
The band recently revealed the tracklisting for fifth studio album The Resistance, which is released on September 14.
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