It also said these prices will be applicable for the first 25,000 bookings, which are slated to commence from October 7.
The company is offering XUV700 in two series - MX and AdrenoX (AX). The AX7 variant will be available with an optional luxury pack.
In addition to the standard AX7 features, the luxury pack will include features like immersive 3D sound, electrically deployed smart door handles, 360o surround view, blind view monitoring, electronic park brake, driver knee airbag, passive keyless entry and wireless charging, among others, it said.
Mahindra has also launched an industry-first 'add to cart' functionality on its website for the XUV700. It allows customers to save variant configurations, including fuel type, seating capacity, colour and dealer preference ahead of the bookings opening.