Indian Institute of Technology (IIT) is a brand to be Very honest. Students are dying to take admission into these college and hence they work hard to secure rank to get selected for admission into IITs.
Now coming to your question both the IITs are too notch in terms of curriculum, courses as well as placement.
But IIT Mumbai is slight better than IIT Madras in terms of placement, location and ambience of the college.
I will suggest you to go for IIT Mumbai if you are getting it over IIT Madras.
Hope that helps..
Hope you are doing well!!
Both colleges are top ranked colleges. Both are Good for chemical engineering. As we compared both colleges IIT Madras ranked is 1 while IIT Bombay ranked 11. IIT Madras colleges has good placements. Faculty are very helpful. IIT Madras is a technical institute known for being one of the most competitive institutions in the world. For more information, I'm providing you a link that will help you.
I hope this information will help you.
Feel free to ask any query.
All the best for your bright future ahead.