If one has a choice of SCMHRD (all branches) and TISS, which one should one go for?

It would certainly depend on whether ROI is an important factor to you or not. SCHMRD and TISS both come under the top tier colleges. 

TISS doesn’t provide an MBA degree but still one of the major HR companies visit the institute for final placements. You need to understand that what you’re paying and what you’re getting in return matters a lot from a longer term perspective. 

The other benefit that you get if you are studying at TISS is their small batch size and less competition. Mind you, I am not saying that competition is not healthy but sometimes, when you’re so focused on gettting the highest package offered and competing against 400 students just like you, you might miss out on the learning experiences.