Hi sarathgopinath,
First off, a 650/Q49 is a strong score (it's right around the 80th percentile overall), so it could be enough to get you into your first-choice School. As such, a retest might not be necessary. Depending on the Schools that you plan to apply to, you would likely find it beneficial to speak with an Admissions Expert about your overall profile. There's a Forum full of them here:
https://gmatclub.com/forum/ask-admission ... tants-124/Before I can offer you the specific advice that you’re looking for, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied?
2) What materials have you used?
Goals:
3) What is your goal score?
4) When are you planning to retake the GMAT?
5) When are you planning to apply to Business School?
6) What Schools are you planning to apply to?
With a V29, you lost significant points in 2 of the 3 major Verbal categories (SC, RC and CR), so while you've identified CR as an area that you need to work on, it can't be the only opportunity that you have to pick up points in the Verbal section. Have you considering purchasing the Enhanced Score Report? While the ESR doesn't provide much information, there are usually a few data points that we can use to define the areas that you need to work on. If you purchase the ESR, then I'll be happy to analyze it for you.
GMAT assassins aren't born, they're made,
Rich