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mumb obviously has tremendous locational advantage, nluo is completely in a backwater region
nluo has reached the highest point that it can achieve, but mnlu, mumb has still lot of potential, so in 5 years who knows where both unis will stand
personally, having visited both campuses, I would opt for mumbai, which although has inferior infra and faculty allows students a huge opportunity to do a glc
Compare them in terms of internships , placements and locational advantage. Thanks a lot!