And of course the answer is.... It depends. For example how long have you been studying? If only a month or a few weeks, then yes, take the test in a month or so. If you have been at it for 3-4 month, another month is not likely to help.
Also it depends on your schools. How competitive are you as an applicant?
My suggestion, would be a third approach. Find the consultant now and pay them for a few hrs of their time. Many offer this service (I think
admissionado has a package?) to help craft your strategy. There are many variables and they can evaluate them. They can figure out you drop dead date for the GMAT.
I could see, for example, you taking the GMAT in 10 days, which leaves some room for a retake should anything go wrong on the test day (things happen). But this strategy would allow you to gamble in exchange for a faster result, and more time for applications, essays and LOR's. Speaking of your score, by the way, Your quant is decent at 46. There is not a whole you need to improve. I could see 10 days giving you 2 points in quant and verbal and pushing you to the 720-740 territory. That's enough for most (Indian IT folks ignore the last comment).
Just some thoughts for you.
Posted from my mobile device.