While the petrol variant is priced from Rs. 13.95 lakh to Rs. 18.25 lakh, the diesel version comes between Rs. 15.55 lakh and Rs. 19.45 lakh.
"The launch of the Octavia marks a milestone for Skoda India as well as reiterates its strong commitment to the Indian market," Skoda Auto India Managing Director Sudhir Rao told reporters here.
The company had launched Octavia first in India in 2001 and had discontinued the model in 2010. It had sold a total of 45,000 units then.
Skoda also announced the phasing out of its Laura model with the launch of the new Octavia.
In a market that has been on a prolonged slowdown, the company is banking on the new model to rev up sales.