Just a quick guide, for below 1K, choice are scarce:

1. Huawei Honor 6, 3GB RAM, has 4G, has Micro SD slot, comparable chip set. (Only below 1K for online shopping, or visit shop like DirectD, Huawei outlet sold this around RM1099)

2. Xiaomi Mi4i (16GB or 32GB), has 4G, but still 2GB RAM, you can get 32GB version, less than capable chip set if compare to Mi3, no NFC.

3. Meizu MX4, 16/32GB, 2GB RAM, has 4G. No Micro SD slot.

4. ASUS Zenfone 2, 2GB RAM, 32GB version, has 4G, but there are many issue reported on battery life, camera quality and over heating.

5. Xiaomi Mi4, has 3GB RAM, but no 4G, Snapdragon S801 2.5Ghz. Only 16GB, no 64GB for Malaysia market.

6. Elephone P8000, 3GB RAM, 4G, but Mediatek MTK6753 chipset (same as the one used at Meizu M2 Note)

Much cheaper option: (With some drawback on performance, but maybe comparable to Mi3)
1. Meizu M1 Note, 16/32GB, 2GB RAM, has 4G
2. Meizu M2 Note, 16GB, 2GB RAM, has 4G

Sorry, let you has more dilemma.

Padfone S Plus already has Lollipop, just released by last month, already has 2 release, but it is still very new, dunno if stable or not.
Available to be downloaded at ASUS support website.

For me, Lollipop is not a deal breaker.
Indeed, I found Kitkat actually run more stable than Lollipop, and faster too.
All apps that can be installed on Lollipop, can be install on Kitkat too, even Jelly Bean is able to run those apps without any issue. (One of my device become more lag, drain more battery, lesser feature, after Lollipop update, not all Lollipop implementation is the same)

The limitation is more on the phone hardware itself, where the processor's and graphic chip's raw capability is the real bottom line.

(Padfone S battery capacity is just 2300 mah, not 2500 mah)