The company will start deliveries of the model by end of January 2018. It expects the Range Rover Velar to be one of its main volume drivers in the SUV segment.
"The Velar fills a gap in our Range Rover portfolio between Evoque and Discovery Sport. This is a product which will help us tremendously in the market and we expect this to be one of our mainstays in SUV segment," Jaguar Land Rover India President & MD Rohit Suri told PTI.
The new model will be available in three engine options of 2-litre petrol, 2-litre diesel and 3-litre diesel.
The 2-litre engine variant in both petrol and diesel options are priced between Rs 78.83 lakh and Rs 91.86 lakh; while the 3-litre diesel variant is tagged at a price ranging from Rs 1.1-1.38 crore (all prices ex-showroom Delhi).
Suri said the model will be fully imported and the company has received almost "100 per cent pre-bookings for up to March next year".
"The response we have got for the Range Rover Velar has been tremendous," he said without disclosing the booking numbers.
So far in the April-September period in this financial year, JLR sales have grown 45 per cent over the year-ago period, he said, adding the company expected to carry forward the sales momentum on the back of new products and network expansion.
JLR's SUV portfolio in India includes Discovery Sport (starting price Rs 42 lakh); Range Rover Evoque (Rs 44.44lakh); Discovery (Rs 71.38lakh); Range Rover Sport (Rs 93.82 lakh) and Range Rover (Rs 1.66 crore).