Based on my experience don’t get into “restore” project unless you are ready to say good-bye to your family for 6 months, willing to attend weddings in the family straight from workshop held ups, and at the end the project cost you time and expected cost + 2 laks more! It also requires great deal of mechanical knowledge, sitting with “mistry” folks all days, evenings and weekends.
Your budget allow you to buy something decent enough which should be ready to be driven from day one.
Regards,