Should I take chemical at BITS Pilani or take a drop?

One of my friends studied Chemical Engineering at BITS Pilani. According to him, it is a really tough stream. It is suggested not to drop a year instead ensure that you work very hard.

• Spend over 12 hours self study every single day for a year.
• You should be able to get under 1000 rank in JEE next year which might be worth taking a year drop.
• But if you have secured a much higher BITSAT score, and if you think you won't be able to work this hard, then simply take whatever you are getting at Pilani.
• Try to graduate with a CGPA of 8.5+ and go for an MS/Ph.D. in any area of your interest.

Herewith I'm providing the basic details for BITS Pilani :

If you opt to drop and secure admission in an IIT, you will be getting only one degree after 4 years. Whereas, you can get 2 individual degrees from BITS after 5 years. There is not much of a difference between BITS and IITs. It is certainly better than the new ones. The top 5 or 6 IITs are better than BITS but letting go of one more year might not be a wise decision.