I am studying CSE at IIT Indore. I can help you with your query.
Our campus is about 550 acres. Its being constructed in 3 phases. Phase 1 has been completed. Its the largest phase and a lot of buildings are completed. Gardens and other beautification work was going on in April. The newly built campus is really cool! And a lot more is coming up this year. Hostels are awesome and among the best in India if not the best.
Now we come to the placements part. IIT-I has great placements. You can search on the web to know more. Placements are comparable to old IITs and far better than any of the NITs. Placements have significantly improved after IITI got its permanent campus. Also, better and better students are joining IITI every year. Cutoffs are rising fast. The opening rank is expected to be under 1000 this year for the CSE and it should close at 1500 if the trend continues. Currently opening rank for CSE is 1100 (nearly). This shows the quality of the students at IITI.
Finally, college life:
Its good but not as great as IITB. But if college life matters you a lot… (even more than your passion).. then opt for low cutoff branch at IIT B,D,K and enjoy 😀