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I've let it sink in and now I'm quite optimistic about the prospects HNLU could offer if I'm serious enough. After evaluating and doing due research, I've came to the conclusion that it isn't really worth re-attempting and sacrificing an year. There is almost nothing that can be done in a T-1 NLU and cannot be done in HNLU, I've even stalked profiles of people who cracked HNLU last year and they've been doing good for themselves, can't really differentiate them from NLUJ 1st years.
The only thing is that you've to walk that extra half mile to grab opportunities, and if doing that saves me an year then so be it.
I would ultimately be loosing 16 lakhs or more if I switch to another T-1 college while having the potential to crack the same job at HNLU. So yeah, initially it is not the best feeling to be in HNLU but I think it will surely get the job done ;)