Option ii - Take an overnight bus to Canakkale from where you can get the ferry that will take you to Bozcaada. Regular buses run from Istanbul to Çanakkale. You will find buses from Çanakkale to Geyikli Yukyeri Port. Getting on this port, you can take a ferry boat to Bozcaada. The whole trip shouldn't cost you more than Rs 1800-2000.Alternative route: You can take taxi. The route Ýstanbul-Tekirdag-Eceabat-Canakkale-Geyikli is about 400 km and takes 6 hours to reach. This route includes ferry. While this is one of the convenient routes, this route is expensive costing around Rs 7000- 12000 depending on car agencies in Istanbul.
Bozcaada is the 3rd largest island of Turkey (its actually not very big, you can cover the entire island in 30 mins on a bike). Its famous for its windmills and vineyards, lovely landscape and attractive beaches with crystal clear water.