Dear,

Before answering your question, I want to point out some relevant things;

1. If you are opting NIT as a tag rather then really passionate or inclination towards the subject.
2. If you are taking it as a back up plan that why to drop a year, when I can pursue my engg prep parallely.
3. If you are getting core architecture college,still not sure about it and want NIT tag.

So buddy, ask these questions and if any of the answer doesn't satisfy you, don't join the course. Architecture is not to be taken as a back up plan, future in this very bright with some initial struggle, it's same everywhere.

Now coming to your answer. I have graduated from MNIT in 2009. And in my opinion, this college is good, better then many core architecture colleges where practical and functional approach is considered secondary. I believe theories are way important because they have been derived from some practical approach. I agree that some faculty are not competent enough to teach you( won't name them) but overall they have good teachers and basically other department subjects like structures, Humanities and renewable and remote sensing were taught very nicely which other core architecture colleges lack.

Infrastructure nowadays has been developed very well and amenities are too good.

I agreed regarding the placements, few companies come to hire architects, well try to secure job while your proffesional training semester (8th semester). Otherwise seniors and alumanis will help.

I hope all points are been covered.

Best of luck