Hi aspirant

You have no chances for IITs and not even NITs .Score less than 500 can give you no IITs ,no NITs and no IIITs/GFTIs.

uou might probably get state engineering colleges/Universities.You should apply there .

Visit the link to check the cut off of IITs,NITs,IIITs,GFTIs :

https://engineering.careers360.com/articles/gate-cutoff-for-nits

https://engineering.careers360.com/articles/gate-cutoff-for-iits

USe GATE predictor tool to predict you colleges you can get: https://engineering.careers360.com/gate-college-predictor

Hope this helps you.