[Aditya]

If you are really attached to this car, go ahead with the project. Try to keep it as stock as possible. Parts for the 118NE will not be too easy to source. Stick to the carburetted petrol engine and gearbox. It's the best thing about the car.
Again if you have gotten used to modern machinery, you might find it difficult to a design from the 60s. Keep that in mind. Even after you do up your car, the resale value will be zilch.