When it drops down to the academic profile, Loyola College, as per the All India Ranking, has been positioned on the top 3, while Madras Christian College still stays on position 15. 

I have friends from both colleges and after aligning their thoughts, here is a thorough insight on how each institute is.

Loyola College:

• It is situated at the center of Chennai city, is broadly renowned and has been marked very influential for its Visual Communication courses. 
• The campus has been completely well established and maintains a form of diversity deemed necessary for institutes alike. 
• The laboratories, alongside many other amenities, are both well maintained and highly equipped. 

Madras Christian College:

• It has a relatively larger campus than Loyola College, making the place quite worth the amusement. 
• The faculties, nonetheless, are extremely proficient and the academic credential each institute shares is particularly very closely knitted to each other. 
• Besides, Madras Christian College has been bestowed with numerous historic monuments specific to it.

Now, it partially depends upon your choices and the subject you are inclined towards. Given the fact, it is best that you decide in accordance with what you are likely to pursue, and check if the same fits your requirements.