I intend to apply for MBA next year and was wondering which universities to consider. Most of the top universities are too expensive and I was looking for ones which are moderately priced and has a good ranking.

How are schools like SUNY Buffalo, CUNY, University of Texas at Dallas, UCSD,etc?

Take a look at Shortcut to find the best US MBA www.find-mba.com/board/36065
and How to use LinkedIn to find the best school www.find-mba.com/board/33571

If these are the only schools you're considering you should look at their employment reports to see how their placements line up with your career goals. For instance, a school like Zicklin may be good for a career in finance, not only because it is in NYC but because it usually places 40 to 50 percent of its grads in the financial services sector. Rady's good for tech jobs, Jindal for energy, etc.

If you're only asking about the quality of this tier of school, they're ranked and accredited, which is great, but they obviously aren't going to be as good for your long-term career ambitions as a higher-tier school.

I have a bachelor's degree in engineering and now I'm looking to do my MBA in a college with a good ranking (preferably in the management consulting, project management,etc)

Which universities would you suggest?

If you don't have three years' work experience take a look at
Why freshers' MBAs are worse than MiM degrees from better schools http://www.find-mba.com/board/38133

Which MSc's are better than pre-experience 'Freshers' MBAs? www.find-mba.com/board/22783

Pre-experience masters in the USA www.find-mba.com/board/23411