Hello Geetha , if you are getting an admission in any other college better than MIT , you should definitely go for it. But if you are getting a college which is not satisfactory to you, and if you think that MIT can fulfill your satisfaction, i think you should wait for it. Because if you get an admission in a better college after taking admission in some not so good or even okay college , trust me , it will only be regret and remorse for you. Its better to wait for something good rather than settling for anything. 

All the best and i hope you make the right decision in your life.