Would you rather take the lowest ranked/semi pvt medical college somewhere in India or take a drop and get AIIMS/MAMC Delhi? Why?

The question is quite subjective and depends on your performance whilemoroaring for the entrance exams and your expectations from it. In my opinion, joining the lowest ranked medical college is not a wise decision considering the efforts you have already invested and are willing to do so more. Had I been in your place, I would have taken a back without any second thoughts 

However, if your goal was just to grab a seat and the brand value of the institute does not matter, then you can join even a low ranked college without much thought. 

Lastly, here is a piece of advice for those taking a drop year. Don’t target only AIIMS and MAMS, rather keep your option wide. Trust me India has many other reputed medical colleges too. Limiting your options will actually limit your opportunities too!