its ok. Mostly depends on what other colleges u r getting admission in?
Old IITs, Top 3 NITs, Good IIITs(Bangalore, Hyderanad, Allahabad, Delhi) are surely better than VIT. In private universities- NIRMA, DAIICT, BITS Pilani are better than VIT. If u dont have a seat in above mentioned only then consider VIT. Guru Govind Singh, NSIT and DTU in Delhi are in same league as VIT.