Hey Cheikogin,
Congratulations on being accepted at IDS. I applied in mid Jan, and waiting to hear from them! When had you applied? I have spoken to a lot of people about ids and soas as well, and what i've gathered is that SOAS has more of an international reputation, and people will know about it wherever you go. IDS is sort of following SOAS' example in terms of teaching methods and the way they question ideas of development, and it's turning out to be a much better school than SOAS. Also soas used to be a place for really passionate people and now it's sort of full of rich brats who think poverty/ development is a "hot topic". But having said that, i'm sure there are those kinds everywhere, and it depends on you to make use of the institute.
Going by the syllabus and course structure, SOAS also seems a lot more generalised. For example, measurement of poverty and the reach of social schemes is a very important issue right now, especially in developing countries, and atleast at the Masters level. SOAS doesn't seem to address that. I have a background in economics, and while i don't want get into core econ, i would like to have that as a base for any Masters i take up. Does that make sense? But IDS is fairly new, so it doesn't have any funds at all, incase you want to pursue a PhD there later. one of my best friends went to IDS last year, and while she really enjoyed it she said their reach is kind of limited right now.
Agree with angie about placements at SOAS. This friend of mine happened to find a position with the Columbia Global Centre in Mumbai on a job portal, and she seemed to think IDS profs are eager to help, but don't have great resources to help you find jobs at the end of the Masters.
Also, I'm from Pune as well. Where do you work? I know of Prayas that does the kind of work you mentioned.