Should I join MDI Gurgaon or go to a newer IIM?

The final decision will be yours. The parameters of comparison are:

• Age of B School: MDI Gurgaon is one of the oldest B Schools in India established in 1973. The advantage of age ensures that MDI has a bigger advantage in alumni strength and corporate relations. In comparison, the new IIMs are considerably young.
• Infrastructure: MDI is gifted with good infrastructure, located in Gurgaon. Some of the hostels are truly world-class and MDI is equipped with a fantastic library that houses all kinds of books. Apart from that, one will find all kinds of books, journals, and research papers related to academics. I am not a student of new IIMs and hence won't comment on the infrastructure.
• Location: Gurgaon being the corporate hub gives MDI the advantage of a better interface with companies. The location plays a significant role in the placement season too.
• Quality of students: MDI scores marginally over the new IIMs in the quality of students. Students have ample opportunity to nurture their talent by participating in live case studies and live projects. Also, the environment is pretty competitive and gives food for intellectual thoughts.
• Faculty: Most of the faculty in MDI are research scholars, and more importantly, they treat the students like adults. New IIMs must also have a strong faculty base as some of them are mentored by the big 3 A, B, and C. The faculty at MDI keeps on referring to some of the brilliant HBR Case Studies. Creativity and innovation are encouraged here at MDI.
• Placements: MDI easily ranks ahead of new IIMs in placements. The morning-to-night grilling placement process at MDI is one of those moments you will crave forever. This institute boasts of a 100% placement for many years now.
• Quality of life: The environment at MDI changed many students for the better. Being in Gurgaon, students were able to witness the historic and artistic splendor of Delhi which mired them in thoughts and curiosity. Students developed a sense of healthy competition and also the art of acknowledging others. They followed their passion for world history by reading and debating about it. Not commenting anything about the quality of life at new IIMs since I was not a student there.