If I leave my biases towards Kashipur as a city aside. I would choose IIT Roorkee over IIM Kashipur.
Here are some reasons in support of my decision:-
The decision here is based on what you value more. IIM Kashipur will give you the IIM label as well as better infrastructural facilities. DoMS at IIT Roorkee can provide a decent ROI, but it comes with a humble learning environment rather than the rigorous teaching curriculum for which an IIM is known.
When selecting a B school, the following criteria should be considered:
Location should be the least important of the aforementioned criteria. Furthermore, DoMS at IIT Roorkee is a one-building department, whereas IIM Kashipur is a full-fledged B school with some of the best infrastructural facilities.
When it comes to ROI, it's not always about the money you put into college and the CTC you get back, but rather the profile you started with and the future growth you achieve.