I would like to know the list of factors to be considered before choosing a B-School
in particular region?
Particular region? Assuming that you mean in different countries/continents, biggest obstacle would be student visa related issues and financing options.
Then once those factors are considered, then you should ask your self what your post MBA goal is and find the right school with the right fit.
Fits can include:
1) School's Core Concentration or Specialization - If you want to do marketing, look for schools with renowned marketing curriculum with core recruiters dedicated to this program.
2) Student Body - (For example) If you are 30 and you prefer a program made of student body with similar age, then this is a big factor. If you don't want to go to a program where majority of students are around 25 years old because you prefer dark irish pubs over trendy clubs and etc, then this is a big factor.
3) School Prestige/Reputation
4) Class Size - Small vs Big
5) Resources - Career Management Center, Alumni, School Administration, Student Clubs etc etc
6) Location - Suburbs vs Metro/City with vibrant nightlife and etc
7) Type of Program - EMBA, 1 Yr MBA, FT MBA, PT MBA, JD/MBA etc etc
8) Academic Bulletins - Read through the elective class descriptions. Core classes are mostly the same everywhere but electives are different depending on the program
9) Employment Statistics - What industry or careers do the graduates enter the most? Do the companies (in the industry that you are interested in) consider that school a key/priority school for recruiting every year?
10) Is it realistic for you to apply to this program and be competitive when compared to other applicants in a given year?