Hi Yeshu, I'm afraid that yes I would recommend you retake the exam.
Please keep in mind for the top schools, don't think about do I have to or can I get away with not. The mindset should be, doing absolutely everything in your power to improve your profile.
If you were to be competing in the Olympics you would not be asking yourself Should I stick to a good diet or do some training today.
You would do everything in your power. And this is absolutely the same situation.
The acceptance rates for all of the top schools are 25% or less and keep in mind that the 75%+ rejected or are not directionless losers. They are good. You have to be better.
If you were Indian, which I'm gathering you are, the pressure is even more intense unfortunately. Take a look at the middle 80% range for your Target schools, and then tack on another 20 points. Unfortunately this is what you get for coming from a super smart ethnicity. This will be the same situation if you are Chinese. If you're under represented then maybe a little under will still work.
If there's any chance you can work with an admissions advisor, I recommend it highly. I find that Indians are the least likely to take advantage of these services and the ones who would most benefit from it.
Farrell Dyan Hehn, MBA
Admissions Consultant & Verbal Strategist MBAPrepCoach.com