The new Verito is more expensive by Rs 7,000 to Rs 19,000 across different variants than the previous model.
With the introduction of the new Verito, the company will stop production of the earlier version.
While launching the model, the company said the car will compete with rivals such as Maruti Suzuki's DZire and Toyota Kirloskar Motor's Etios.
The DZire is currently available between Rs 4.88 lakh and Rs 7.35 lakh, while the Etios is sold at Rs 5.14-8.23 lakh.
All prices are according to respective companies' official websites and are ex-showroom, Delhi.