Venue comes with three engine options -- 1 litre turbo and 1.2 litre petrol powertrains besides 1.4 litre diesel engine -- and sits below the Creta in terms of price and positioning.
The petrol variants are priced between Rs 6.5-11.1 lakh, while the diesel trims are tagged between Rs 7.75-10.84 lakh (ex-showroom Delhi).
The model would compete with the likes of current market leader Maruti Vitara Brezza, Tata Motors Nexon, Ford EcoSport and Mahindra XUV300, that are priced between Rs 6.48-11.99 lakh.
The compact SUV segment is the fastest growing vertical in the domestic market.
"The Indian market is at the centre of Hyundai's global growth plan and the launch of Venue will strengthen our commitment to this market," Hyundai MD and CEO S S Kim told reporters here.
The company said it has invested $100 million (over Rs 690 crore) on the development of the model over a period of four years.
Hyundai Venue comes with various India-specific connected features including a panic button for distressed situations.
The company's BlueLink technology comes with 33 artificial intelligence and connected features, of which 10 have been specially designed for the Indian market.
The model comes with various features including an electric sunroof, wireless phone charging, air purifier, cruise control, among others.
Safety features on the model include six airbags, speed sensing auto-door lock, vehicle stability management, among others.
As per the company, 1-litre petrol variant with manual transmission will deliver a fuel efficiency of 18.27 km/litre. The automatic trim with seven speed transmission would deliver a fuel efficiency of 18.15 km/litre.
The 1.2-litre petrol variant comes with a fuel efficiency figure of 17.52 km/litre while the 1.4-litre diesel trim would deliver a fuel efficiency of 23.7 km/litre, Hyundai claimed.
The compact SUV would also be launched in various international markets including the US, Canada and Australia.