Rahat, it all comes down to a few major things:
- What engine
1. Condition: Since these 20+ year old rigs, usually not well taken care of, you have to be careful what you decide to buy in the end and at what price. Do the usual checks of the overall mechanical condition (engine, gear, suspension). Then check the body for rust and chassis/frame (make sure it is not bent or damaged from a major roll-over or accident).
2. What Engine: I would never advise anyone to go for the 2L or 3L engines. They have a very common problem of head cracking and usually will breakdown on you. Also the power I feel is just not there. Go for the 1KZ-TE version. The turbo makes a big difference and later you can add intercooler, or find one with turbo intercooler 1KZ engine already. The power of the 1KZ never disappoints and is a very reliable engine.
3. Registration/paperwork: Again, I usually don't care what city it is registered in, but in this country it matters. This also effects the price, thanks to the auto dealers who have made this trend of using it as a selling point if a car is ISB/LHR/KHI registered etc.
In the end I would say go for a 1KZ turbo inter-cooler version, if your budget allows, go for a 1995 model. The price should not exceed 14-15 lakhs for one in really good condition. For average condition you might get one for around 11-1200k. Good luck and keep us posted.