Hello aravindmba, thanks for your question.
As you know, applying in May/June certainly did not help your chances. I think the main challenge you face right now is your GMAT score: overall, quantitative, and verbal. Especially because you come from an overrepresented demographic (Indian males with IT work background) that scores disproportionately high on the GMAT, your score is not an asset to your candidacy. I think this is somewhat mitigated by your 3.5 GPA in engineering. Do you have anything else that you could point to that is a better representation of your ability to handle the academic rigor of an MBA?
Your work and extracurricular experience are areas where you might seek to distinguish yourself. The more you can demonstrate to admissions committees that you possess the abilities to lead, drive results, and take the initiative, the stronger your application will be.
To answer your question, I do think your age might hurt your chances at some of the top US fulltime programs that tend to look for younger applicants. In terms of 1-year programs, since your post-MBA goals appear to be a career change, shorter programs without a summer internship might not be to your advantage.
I hesitate to recommend schools based on a hypothetical GMAT, but if you were able to raise your score to 700+ as you hope, I think you could reach for schools like Babson or Boston University.
I am not as familiar with one-year programs, but I found this link with rankings:http://www.macquil.com/articles/oneyearmba.php
Best of luck,
mbaMission Insiders Guides: http://www.mbamission.com/guides.php?category=insiders
Free Consultation: http://www.mbamission.com/consult.php