Hello Srikanth, 

If we generally compare these two colleges then IARE is far better then Guru Nank Institute. But the issue is that the flagship course of IARE is Aeronautical Engineering.

So leaving other branches aside. I will suggest you to try for Aeronautical Engineering in IARE if you have a bit of interest in this field. Or else you can opt any branch in this college as its placements are very good. 

Hope this helps, Thank You 

All the best