well....animation...the big question..i'll tell you no matter what the duration of the course is you'll start with no more than 15k..& thats the max(I am currently a student at MAAC, andheri-w,mumbai)...as for a 1.5 yrs course..thats the worst..join a shorter course..it'll make no difference.
if you really want to learn animation in india, then join frameboxx, it has some good specialisation programmes. MAAC is decent but courses at frameboxx are more industry oriented. MAAC is well known only because it is old. Frameboxx opened only at the begining of this year but its courses are better. And the fact is frameboxx is opened by senior technical staff from MAAC.many old & experienced faculty members are its founder. Believe me it will guide you well. But the most important thing you should do is go to the institutes & talk to students & not the management staff.if you can, check out student works of the institutes.
Since you've completed your graduation, i advise you to join a shorter 6months-1yr course that has 1 or 2 softwares.theres no use learning all the softwares that these institutes teach because in the end you'll have to specialise in one single department and prepare a portfolio/showreel that showcases your best work in that particular department.during interview,the animation studios will ask you questions from your field & wont even ask you how many softwares you know.try to choose a course that has- basic sketching/drawing, photoshop, maya(it is preferred over max in studios) & any one compositing/editing software like after effects.the combination of these softwares will effectively guide you through the world of animation/visual effects & will be enough for you to prepare your showreel.the industry demands a master of one & not a jack of all trades.
Remember to talk to students.you can also visit tasi.com for more info.
one word of caution..animation in india is yet to reach a mature stage both in terms of training & production..the institutes here do not employ well trained faculties..you will be better off joining a foreign institute than one in india..
check this thread- *www.thinkdigit.com/forum/showthread.php?p=1019946#post1019946
BTW, you did your b.tech in comp.sc? wow,that was always my dream..to be a developer...sadly it didn't happen. anyway be very careful before changing lanes, you might regret it.