One of my friends had recently joined NICMAR and here are some things he suggested that might help you with your question. 

• It would be highly recommended to take the Distance Course if the aspiring candidate is very serious about pursuing this course.
• The degree is not much worth the cost that one is paying. 
• Most of the prior experienced candidates got job offers with lesser salaries than they were getting before.
• The average CTC offered is around INR 6 LPA wherein you do not have much choice with the company that you can get placed anywhere else.

Thus, it is important to take suggestions from students who have recently passed out or are currently graduating and then make the decision.