The method includes the steps of placing a metal band (101) in a mandrel (102) provided at a machining tool; forming the metal band/work piece (101) for making a desired length of rim (201) and a wheel disc (202); spinning a nave portion (401) of the work piece (101) for shaping the wheel disc (202); spinning the work piece (101) for making a disc flange (502) and a gutter portion (504) of the wheel; rolling the rim portion to form the required gutter portion (504) of predetermined shape and thickness; spinning the rim portion further to form a tyre seat and well area (701); forming a flange flare (801) by bending the rim portion; forming the flange portion (901) of the wheel rim by bending the flange flare (801); machining flange edge (1201), nave (1202) and bore; reaming of bolt holes and chamfering bores at the wheel disk portion.