Octavia comes in four engine variants - 2 litre diesel (automatic and manual), 1.4 litre petrol and 1.8 litre petrol.
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 (ex Showroom, Delhi).
"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.