LOW-KEY CEREMONIES SET FOR SINAI TRANSFER TODAY

The Government of President Hosni Mubarak today predicted a smooth final withdrawal of Israel's presence in Sinai Sunday as Egypt's black, white and red flag is raised at Rafa, in northern Sinai, and at Sharm el Sheik on the peninsula's southern tip.

Low-keyed ceremonies celebrating the return of the last third of Sinai under the terms of the Egyptian-Israeli peace treaty are planned in various population centers. They are far more limited in scope than the huge national holiday that was often envisioned by President Anwar el-Sadat for the final transfer of the peninsula.

Besides the desert flag-raisings, there will be several military parades. Mr. Mubarak, who has professed a policy of austerity since coming to power after Mr. Sadat's assassination on Oct. 6, will place wreaths at Egypt's Tomb of the Unknown Soldier and at Mr. Sadat's grave adjacent to it.

On Monday Mr. Mubarak will address Parliament on the country's domestic and foreign policies. Reaffirms Adherence to Treaty

At a news conference today, Foreign Minister Kamal Hassan Ali, who has been closely involved with the negotiations for the return of Sinai, reaffirmed that Egypt would adhere to the terms of the Camp David peace treaty after the Israeli withdrawal tomorrow.

Mr. Ali said that although there was still a dispute over a small tract of Sinai, he expected the withdrawal to go smoothly. The disputed area, called Taba, is coastal strip of about 700 yards just south of the Israeli port city of Eilat along the Gulf of Aqaba. The Israelis want to retain it because it includes a nearly completed resort hotel.

Mr. Ali said that the tract was subject to arbitration under terms of the peace treaty and that for the time being ''we have agreed on certain principles which include withdrawal of Israeli armed forces and civilians to the border as estimated by Egypt and the advance of Egyptian authority only to the border claimed by Israel.'' Peacekeeping Units in Between

While negotiations continued, the land between the two lines will be occupied by some of the 2,600 members of a 10-nation Sinai peacekeeping force, called the Multinational Force and Observers.

For the last several weeks there has been an aura of gloom and doubt in Israel about returning the last strategic portion of Sinai, which Israel captured from Egypt in the 1967 war. This had prompted in Egypt what one official called a ''case of Sinai jitters'' that the last phase of the withdrawal might not take place as scheduled.

A resulting desire to ''not rock the boat'' at a sensitive time was seen as one reason Mr. Ali shied away at today's news conference from questions on controversial Israeli actions on the West Bank of the Jordan and in Lebanon.

At one point, the Foreign Minister was asked by an Israeli reporter about the leveling of dwellings by Israeli forces in the town of Yamit, which reverts to Egypt Sunday and which was the scene of turbulent Israeli demonstrations against the Sinai transfer. 'We Don't Blame You'

''You lost two times,'' Mr. Ali said, ''the first when you built this area, the second when you destroyed it without selling it to us. We were ready to purchase all those structures, and you were willing. But we know why you destroyed them, and we don't blame you.'' He did not elaborate.

Following the line pursued in recent months by President Mubarak, Mr. Ali said he was confident the peace treaty between the two former foes would presist and ''create a good atmosphere for normalizations of relations in the coming months and years.''

He also reaffirmed the Mubarak policy - one that has caused some of the gnawing doubt in Israel - that Egypt was receptive to the restoration of relations with Arab nations that had cut ties with Egypt because of the treaty with Israel. Warns Against Interference

Mr. Mubarak has said a resumption of such ties would be welcomed but only if the overtures were not made at the expense of the treaty with Israel. That, he has said, would constitute interference in Egypt's internal affairs.

Mr. Ali said he thought the renewal of diplomatic ties with other Arab nations ''will take some time.'' Most of the Egyptian press dealt in detail today with the return of the last seciton of Sinai, and much of the coverage dealt with a need for the country to develop the huge peninsula.

The banner headline in the mass-circulation Al Gomhouriya said simply: ''They will go.''