I solved this by following ‘rdagger’ steps, but with a slight variation.
I have used windows powershell with admin previlege
At the step meteor ‘npm install --global --production windows-build-tool’, after Python installed, I have waited a long without any status, so quit the power shell and browsed to ‘C:\Users\#user#\.windows-build-tools’, where I found ‘BuildTools_Full.exe’. I have ran it manually with default options. It also took a bit time, but atleast I can see the status.
It installed some C++ tools etc. After this, I resumed the ‘powershell’ and continued steps from ‘npm install -g node-pre-gyp’. Have ignored all the warnings! Then started meteor in my project folder. Voila!