Thank you for all your valuable inputs.
As of now the only thing bugging me was that it was half assembled at home and is stuck in tha state.
Finally yesterday, spoke to a mechanic and handed over everything to him. He dismantled most of the stuff and rewired the whole scooter and is likely to finish the job by this thursday. He advised me to go for the single seat mod without stepney. I felt that was not needed hence told him to leave the stock feel as it is.
As usual Bangalore is an expensive place for restoration works. This guy is charging a bit more than usual. I am okay to pay as long as he does the job and delivers it in 1piece.
Will post updates on Thursday. No luck in finding indictators for this model of scooter. No white wall tyres in plan as of now, but will surely Consider it later.