Hi
Each city in the UK has there own unique traditions and history, hence I would suggest not to worry more on the place of stay. There will be Hostels in University, Rented apartments and Shared apartments. Normally students will go for a shared apartment which works out to be economical.
IT Management is a good selection, if you are knowledgeable and confident in this domain & Industry then it is a good match with IT Bachelors study in India.
Settling down in the UK is the next part after your education gets over. With regards to your work permit or getting a permanent resident in the UK there are possible ways like Skilled immigrant, Sponsored Skilled immigrant and Temporary workers. Also go through in detail in this gov. website
http://www.bia.homeoffice.gov.uk/workingintheuk/ in this you will get the full picture of immigration possibilities
Also go through these links to find more on city and courses
http://pea.to/01_general and
http://www.educationuk.org/pls/hot_bc/b ... &p_lang=31