All valid suggestions... However, its a rented accomodation and the situation with my landlord is, to put it mildly, complicated.
While I am all for getting the wiring done upto code, it might not be immediately possible or feasible.
I m looking for a temporary solution for a few months at best. As I mentioned, I do have the younger cousin brother which works just fine.
Its about 12-13 years old at this time and I have accumulated various accessories and bits for it over the years... I can continue to use it in the interim.
PS: @tszaboo 's suggestion is more appealing should I choose to go that way.. and as a matter of fact, I can probably request my landlord to get it done.