Thank you people, your replies have definitely given me few more perspectives to look at.
Although, I am still not decided on the college but I think I am in a better position to make a call now.
It appears there is not much between Kelley and Mcdonough when it comes to statistics and rankings.
Total expenditure will be more or less the same for me at both the places becuase Mcdonough has offered me better scholarship package compared to Kelley. So I can bear the extra cost of living in DC.
It seems it will be more of a lifestyle choice for me now, as in which place I would prefer to live in. Even this choice is kind of tough as I had the time of life during my undergrad years at a small university town somewhat like Bloomington but currently I feel I ll be more comfortable in a metro. So still thinking.
Please keep pouring in your views and I ll let you guys know as soon as I decide to put in a deposit to lock in my decision.